NO. 25


Financial and Banking News

Budgets & Revenues

Saudi Deficit in 1988 was 40% Higher Than Expected

Figures recently published by the Saudi Arabian Monetary Agency (SAMA) showthat the Saudi government ran a SR50.25bn ($13.4bn) budget deficit in 1988,which was 40% higher than had been forecast. Although the 1988 budget originallyintended to raise SR30bn from the issue of local treasury bonds, only SR21bn ofthe new instruments were in fact offered during the year,...