Cars pass by the kingdom tower Sunday, June 14, 2015, in Riyadh, Saudi Arabia. (AP Photo/Hasan Jamali)
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Saudi Arabia is intensifying efforts to shrink the highest budget deficit among the world's biggest 20 economies, aiming to cancel more than $20 billion of projects and slash ministry budgets by a quarter, people familiar with the matter said. The government is reviewing thousands of projects valued at about 260 billion riyals ($69 billion) and may cancel a third of them, three people said, asking not to be identified as the discussions are private. A separate plan includes merging some government ministries and eliminating others, two people said, also speaking on condition of anonymity.
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