Financial and Banking News
BUDGETS AND REVENUES
Saudis Budget for $14bn Deficit
The long-delayed state budget which was published in Saudi Arabia on 31December incorporates a SR52.72bn ($14.1bn at an exchange rate of $1=SR3.75)deficit, to be financed by a drawdown of reserves. The last published budget, inMarch 1985 called for a balance between revenue and expenditure, although thiswas rapidly overtaken by events so that large state deficits and drawdowns from...