Financial and Banking News
Saudi Arabia Estimates Gulf War Overspend at $49bn: Issues Cautious Budgetfor 1992
Saudi Arabia spent SR472.36bn ($126bn) during 1990 and 1991, 65% more thanthe budgeted expenditure, according to figures released by the Saudi Ministry ofFinance and National Economy on 2 January. This implies incremental spendingassociated with the Gulf crisis of SR186.26bn ($49.67bn). The Ministry gave noindication of how this sum was funded, but...