Saudi Arabia to boost borrowing as oil glut weighs on virus-hit economy

RIYADH/DUBAI (Reuters) - Saudi Arabia could borrow around $26 billion (21 billion pounds) more this year and will draw down up to $32 billion from its reserves to finance a government deficit caused by lower oil prices and the coronavirus crisis, the Saudi finance minister said.The world's biggest crude exporter has the financial capacity to deal with the slowdown in economic activity caused by COVID-19 containment measures, Finance Minister Mohammed al-Jadaan said during a press conference on..