VOL. XLV

No 49

9-December-2002

SAUDI ARABIA

Saudi Arabia Approves $55.7Bn Budget With $10.4Bn Deficit For 2003

The Saudi Ministry of Finance and National Economy has issued a budget for 2003 which forecasts government revenue of SR170bn ($45.3bn), government expenditure of SR209bn ($55.7bn), and a resultant deficit of SR39bn ($10.4bn). The budget was approved by a special session of the Council of Ministers chaired by King Fahd ibn 'Abd al-'Aziz in Makka on 27 November. In...