VOL. XXXVII
NO. 15
10-JANUARY-1994
Financial and Banking News
Budgets & Revenues
Saudi Budget Signals Tough Line On Government Expenditure
The Saudi budget for 1994, which envisages a 19% cut in spending compared to1993, has succeeded in reassuring the market that the Kingdom intends to tacklethe fiscal deficits which have been the subject of so much discussion in recentmonths. With oil prices declining sharply in the final weeks of December, andthe price outlook for the next few months full of...
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