NO. 14


Financial and Banking News

Budgets & Revenues

Saudi Deficit Financing Continues in 1990

The budget of the Saudi Arabian Government for 1990, which was released lastweek, and incorporates nominal increases in both spending and revenue comparedwith 1989 and an identical SR25bn ($6.7bn) budget deficit, to be financedentirely by the issue of new development bonds. Revenue is estimated to increaseby SR2bn over last year to SR118bn ($31.5bn), and although no...