Saudi Arabia: SAMA calls for subsidy reform

Governor of the Saudi Arabian Monetary Agency (SAMA) Fahad Al-Mubarak said Saudi Arabia needs to reform energy subsidies, in a speech published on the bank’s website on 8 February. While he did not outline any specific plans, Al-Mubarak said the subsidies “should be changed in a gradual and elaborated manner, to ensure that subsidies continue to target low and medium-income segments of the community, taking into account the social impacts of any change”.