VOL. XLVI

No 6

10-February-2003

SAUDI ARABIA

SAMA Governor Urges Measures To Tackle Public Debt

The Governor of the Saudi Arabian Monetary Agency (SAMA), Hamad al-Sayyari, has presented the central banks 38th annual report to King Fahd ibn 'Abd al-'Aziz and called for steps to reduce the kingdoms public debt which has been steadily growing since 1990-91 (MEES, 27 May 2002), and reached $173bn at the end of 2002. Mr Sayyari stressed the need to balance the budget through cuts in public spending,...