(MENAFN) International Monetary Fund (IMF) managing director Christine Lagarde said on Tuesday that Saudi Arabia's financial adjustment process should be gradual, as she praised the kingdom's ambitious reform drive to disconnect itself off a dependence on oil.
In a statement at the end of her visit to the kingdom on Tuesday, Lagarde said, "Fiscal adjustment is continuing, with the government containing expenditures and raising additional revenues".
"A large, sustained, and well-placed fiscal adjustment is needed in the coming years to continue to respond to the effects of lower oil prices on the budget", she added.
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