NO. 7


Financial and Banking News

Budgets and Revenues

Mid-East Foreign Deposits Up, Borrowing Down in First Half

Figures recently published by the Basle-based Bank for InternationalSettlements (BIS) reveal that during the first half of this year aggregate bankborrowing by Middle Eastern countries declined to $98.5bn from $102.8bn at theend of last year, and that deposits held with commercial banks in non-communistindustrialized countries have increased to $202.5bn from...