VOL. XLII

No. 20

17-May-1999

SAUDI ARABIA

Saudi Central Bank Governor Reiterates: The Worst Is Over

The Governor of the Saudi Arabian Monetary Agency (SAMA),Mr. Hamad Sa'ud al-Sayyari, told Reuters on 9 May that although theKingdom would not meet its target of a balanced budget by the year 2000, theeconomy was improving and the deficit would be less than projected in thelatest budget. Mr. Sayyari said that the balanced budget target would not beachieved due to "the heavy reliance on the oil...