Muslims circumambulate the Kaaba, the cubic building at the Grand Mosque, in the Muslim holy city of Mecca, Saudi Arabia, Saturday, March 7, 2020. Few worshippers were allowed to enter after dawn prayers to circumambulate the Kaaba over fears of coronavirus. (AP Photo/Amr Nabil)
March 19, 2020
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March 19, 2020 3:57 a.m.
Saudi Arabia to slash spending by 5% as oil prices fall
DUBAI, United Arab Emirates (AP) — Saudi Arabia said the government will cut spending by 5%, or about $13.3 billion, to offset the impact of plunging oil prices and the effects of the new coronavirus on its economic outlook and deficit.