Middle East Economic Survey

VOL. L

No 51

17-December-2007

Saudi Arabia’s Record $120Bn Budget Focuses On Capital Expenditure, Education

Saudi Arabia’s vast industrial and infrastructure expansion is reflected in the country’s record budget for the year ahead. The budget is aimed at fostering economic growth, but at the same time is not using all-time high oil prices as justification for imprudent spending that adds to inflationary pressures. The Saudi cabinet on 10...