The world’s largest oil exporter, Saudi Arabia, plans to put up for privatization state-held assets in the healthcare, education, and water utility sectors in order to raise money while its oil revenues have shrunk with the low oil prices and the crash in demand. Saudi Arabia could receive billions of Saudi riyals from such privatizations over the next five years, its finance minister Mohammad Aljadaan said at a video forum hosted by Bloomberg . The biggest asset sale that Saudi Arabia has made in recent years was the initial public offering (IPO) of 1.5 percent of its oil giant Saudi Aramco in December 2019, with which the Kingdom received US$29.4 billion. However, privatizations in other sectors have been slow to take off, Bloomberg notes. Earlier this year, after the price crash it helped create by flooding the market with oil, Saudi Arabia tripled its value-added tax (VAT) and suspended […]