Middle East Economic Survey

VOL. XLVII

No 36

6-September-2004

SAUDI ARABIA

BUDGETS AND REVENUES

Saudi Budget Surplus To Pay Down Public Debt, Says Finance Minister

The budget surplus which Saudi Arabia expects to realize this year will be used to pay down the countrys estimated SR660bn ($176bn) debt, Finance Minister Ibrahim al-'Assaf has said. The Cabinet and the Supreme Economic Council have agreed to use the budget surplus this year to repay some of the public debt, he said. But he added that it...