NO. 15


Financial and Banking News

Public Finance

New Saudi Budget Marks Major Change In Fiscal Policy

The Saudi budget for 1995, with its large increases in the price ofdomestic utilities, marks the beginning of a new chapter in Saudi fiscal policy.The Saudi Government's decision to raise prices for petroleum products,electricity, water and some other items clearly signals that domestic revenueswill be expected to play a significant role in funding government expenditure...