VOL. XXXI

NO. 16

25-JANUARY-1988

Financial and Banking News

BUDGETS AND REVENUES

King Fahd Suspends more Austerity Measures

After suspending the decree taxing foreign workers in Saudi Arabia which wasannounced shortly after the Kingdom's 1988 budget was unveiled, King Fahd ofSaudi Arabia on 18 January rescinded plans to levy surcharges on the cost ofsome public utility services and ordered a comprehensive study of taxes andsurcharges before deciding on new ones. The planned surcharges were to have...