Saudi Arabia Boosts Levies on Imports as Oil Revenue Declines
- Date: 04-Jun-2020
- Source: Bloomberg
- Sector:Economy
- Country:Saudi Arabia
Saudi Arabia Boosts Levies on Imports as Oil Revenue Declines
Higher customs fees June 10 include food items like milk, meat. Saudi Arabia is raising a raft of customs fees in another policy revamp that could hurt consumer spending at a time when it's already down.. Some of the items had been exempt from customs fees before.. Measures like higher VAT and higher customs fees "will reflect negatively in the long-term for the economy itself, which needs spending stimulated, not limited," he added..