A view shows the construction of the King Abdullah Financial District, north of Riyadh, Saudi Arabia April 11, 2016. REUTERS/Faisal Al Nasser
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In October, the International Monetary Fund warned that Saudi Arabia could deplete its financial assets within five years.Spending cuts and measures including the gradual reduction of energy subsidies mean that the budget deficit will probably fall to 9.6 percent of economic output in 2017 from 13 percent this year, according to Tim Callen, the IMF's Saudi mission chief.Gross domestic product is set to expand 1.2 percent this year, according to IMF estimates. It will then settle around 2.25 percent to 2.5 percent in the medium term, a pace that Callen said was unlikely to create enough jobs to meet demand.
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