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A Muslim prays from a hotel overlooking the Kaaba, the cubic building at the Grand Mosque, in the Muslim holy city of Mecca, Saudi Arabia, Wednesday, March 4, 2020. On Wednesday, Saudi Arabia's Deputy Health Minister Abdel-Fattah Mashat was quoted on the state-linked news site Al-Yaum saying that groups of visitors to Mecca from inside the country would now also be barred from performing the pilgrimage, known as the umrah. (AP Photo/Amr Nabil)

A Muslim prays from a hotel overlooking the Kaaba, the cubic building at the Grand Mosque, in the Muslim holy city of Mecca, Saudi Arabia, Wednesday, March 4, 2020. On Wednesday, Saudi Arabia's Deputy Health Minister Abdel-Fattah Mashat was quoted on the state-linked news site Al-Yaum saying that groups of visitors to Mecca from inside the country would now also be barred from performing the pilgrimage, known as the umrah. (AP Photo/Amr Nabil)

March 19, 2020

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Saudi Arabia to slash spending by 5% as oil prices fall
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.