Middle East Economic Survey
Saudi Government Unveils Record Expansion-ary Budget
Sustained high crude oil prices this year have provided Saudi Arabia with the impetus to hike 2011 budgeted expenditure 7.4% to a record SR580bn ($155bn). But the kingdom is not only reaping the rewards of buoyancy in the oil market, it is also benefiting from prudent management of its public finances over the last several years. This has allowed it to weather the...