Saudi Arabia’s government is to adjust subsidies for water, electricity and petroleum products over the next five years, the Ministry of Finance said in its 2016 budget document, cited by Reuters.

Any changes made to such prices would be aimed at achieving efficient use of energy and conserving natural resources, and would also be structured to minimize the negative effects on lower- and middle-income citizens, the document said.

A number of structural economic reforms, including “privatising a range of sectors and economic activities,” would also be planned, the ministry added without giving details.

Related articles across the web

• S/Arabia vows to support Egypt despite oil price slide
• We are going to focus on price modulation, not subsidy removal - Kachikwu
• More than money at risk for Saudis
• How Fracking is Driving Gas Prices Below $2 Per Gallon
• Confusion clouds Saudi Arabia's coalition against militancy | Reuters
• We'll focus on price modulation, not subsidy removal - Kachikwu
• Saudi Arabia's war of independence
• Opec to keep pumping out record oil volumes despite growing global glut, sources say
• First Women Political Leaders In Saudi Arabia: Role Of Women In Islamic Societies - OpEd
• Syrian negotiator says opposition wants transition without Assad