Financial and Banking News
BUDGETS AND REVENUES
Higher Spending Leads to Increased Saudi Deficit
Government spending in Saudi Arabia exceeded budgeted levels for the firsttime in recent years during 1987, according to figures published in the 1988Annual Report of the Saudi Arabian Monetary Agency (SAMA). Ever since the early1970s, Saudi budgets have been chronically underspent. In 1987, spending was8.7% over budget, and was 5.2% higher than during the previous...