Dubai: Due to the coronavirus epidemic, the economic situation of many countries all over the world has become disastrous. At present, Saudi Arabia, which is among the largest producers of crude oil, has also increased taxes of many items in the country by three times. With this, it has also decided to cut the amount released by 26 billion dollars for the completion of many major projects.

Saudi Arabia's economy rests mainly on crude oil. At present, the price of crude oil has come down to $ 30 per barrel, which has caused a big blow to its earnings. Apart from this, Hajj also did not happen this year, in which crores of Muslim pilgrims from all over the world used to come to Mecca and Medina for darshan. Saudi Arabia also used to earn a lot due to Hajj.

The main income of Gulf countries comes from oil exploration. However, this time due to Coronavirus and lockdown, the prices of crude oil were steadily decreasing. Apart from this, the price of crude oil went down to zero in April. In such a situation, it is now expected that Saudi Arabia's neighboring countries can also increase taxes on many items here.

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