VOL. XXXII

NO. 14

9-JANUARY-1989

Financial and Banking News

BUDGETS AND REVENUES

Saudi Arabia Forecasts Increased Revenue

The Saudi Arabian budget for 1989, which was released in outline form lastweek, incorporates a surprising 10% increase in the government's revenueexpectations as compared with the 1988 budget. With expenditure set to remain unchanged, the lower deficit in 1989 is to be financedentirely by the issueof "development bonds" by the Saudi Arabian Monetary Agency (SAMA). Nofurther...