Middle East Economic Survey


No 43


Saudi 2009 Budget Surplus On The Cards, BSF Says

Saudi Arabia is likely to see a small budget surplus in 2009, compared to a government-projected SR65bn ($17.33bn) deficit, due to a successful public spending scheme and higher-than-expected oil prices, says a new report from Banque Saudi Fransi (BSF). The start of a five-year stimulatory state spending program saw government expenditures reach SR579bn ($154.4bn) in 2009, surpassing targets by...