Financial And Banking


Saudi Budget Delayed by Revenue Uncertainties

The Saudi Arabian government's budget for AH 1406/07 (FY 1986/87), which was due to go into effect on 13 March, has been delayed for a period of up to five months until a realistic assessment of revenue expectations can be made. The delay was announced by King Fahd in an address to the nation on 10 March in which he said that the country was facing "extremely critical circumstances" as a...