Middle East Economic Survey

VOL. LII

No 36

7-Sep-2009

SAUDI ARABIA

Saudi Government Succeeding In Shielding Domestic Market, Says NBK

The Saudi government is succeeding in mitigating the impact of the global financial crisis on the domestic market, according to NBK Senior Economist Muhammad Zaher. In a 26 August GCC Brief, Dr Zaher observes: Despite a drop in oil revenues, the Saudi government announced a 16% budget-to-budget increase in public spending for 2009, with the emphasis on investment...