RIYADH, Nov. 22 (Xinhua) -- A Saudi study has predicted a reduction in the deficit of the current and next year's budget because of government plans to cut spending, while this will slow down business activities of the private sector, Al Eqtisadiya online news reported on Tuesday.
The Saudi cost cut approach to deal with the dropping oil prices in international market will reduce the gross domestic product (GDP) of the non oil sector, said the study, conducted by Jadwa Investment local company.
The policy of the cost cuts led to a decision earlier this month by the Council of Economic and Development Affairs (CEDA) to cancel projects valued at up to 266.7 billion U.S. dollars, citing the reason that they would not meet the expected economic and development returns.
Also, the CEDA announced it was settling overdue payments to the private sector next month before the end of the fiscal year.
The results of the study contradict with the goals of the country to end oil-dependency by empowering the private sector as a key element toward economic growth.
Andy Murray of Great Britain competes during the men's tennis singles gold medal match against Juan Martin Del Potro of Argentina at the 2016 Rio Olympic Games in Rio de Janeiro Travis Kelce Youth Jersey , Brazil Justin Houston Youth Jersey , on Aug. 14 Kareem Hunt Youth Jersey , 2016. Andy Murray won the gold medal. (XinhuaCheng Min) Andy Murray of Great Britain competes during the men's tennis singles gold medal match against Juan Martin Del Potro of Argentina at the 2016 Rio Olympic Games in Rio de Janeiro Patrick Mahomes II Youth Jersey , Brazil Tyreek Hill Youth Jersey , on Aug. 14 Armani Watts Womens Jersey , 2016. Andy Murray won the gold medal. (XinhuaCheng Min)
RIO DE JANEIRO, Aug. 14 (Xinhua) -- Andy Murray of Britain became the first player to win two gold medals in the men's singles event at the Olympic Games when he scraped past Argentine Juan Martin Del Potro 7-5, 4-6, 6-2, 7-5 to retain his London 2012 Olympic Games title on Sunday at the Olympic Tennis Centre.
The newly crowned Rio Games champion hugged Del Potro after the four-hour match, both men with tears in the eyes.
Both Murray and Del Potro, who also took bronze in this event in 2012, joined Charles Winslow of South Africa and British Josiah Ritchie on a record two Olympic medals in the men's singles.
World number two Murray had a wonderful Olympics at Rio which started with being selected as Britain's flag bearer in the opening ceremony and finished having the flag raised at the victory ceremony.
"Getting to carry the flag in the opening ceremony was an amazing experience... To finish it with a match like that as well, it was obviously very emotional. Until the end it's been a buildup of emotions over the last 10 days or so, and I'm just very happy I was able to get over the line tonight," said the three-time Grand Slam winner.
Murray also paid tribute to his opponent.
"He obviously played, at times tonight, he played extremely well. He had done amazing to get back to playing and competing at this level.
"All of the issues that he's had with his wrist. Mentally, I can only imagine how frustrating that must have been to keep going through the same problem. Having to try and come back," he said.
Former world number four Del Potro never expected he could go this far after a wrist injury forced him rest a long time and his world ranking dropped to the 141st.
"I didn't expect to do like this. When I saw the draw and my first opponent, Novak Djokovic, I said 'ok, it's going to be a short tournament for me', but at the end of the day, it's an honour to play the number one in the world," said the 27-year-old who produced one of the tournament's biggest surprise beating the Serbian world number one 7-6 (7-4), 7-6(7-2) in the first round.
The Argentine player's brilliant run to the final earned him appreciation from the Brazilian fans.
"I had a great match then I kept winning every day and the crowd made me cry every night. I think that was the key to keep going and never give up. Today I made a great final, but Andy deserved to win in the end," he said.
"It was like a dream. I never saw anything like that in other courts, (other) tournaments. The crowd had something special with me during the whole tournament and also the Brazilian fans were cheering for me with too much respect. That's strange (laughs), but I think the people made a fantastic tournament and they deserved to see good tennis from us," Del Potro said.
Men's doubles winner Rafael Nadal of Spain missed the podium after losing to Japanese Kei Nishikori 2-6, 7-6 (7-1) 3-6 in the bronze medal match.
"He played great during the whole match, I didn't play with the right energy during the whole match. I was too tired, especially playing not your 100% against a player like Kei is something almost impossible