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...