VOL. XXXVI

NO. 46

16-AUGUST-1993

Financial and Banking News

BUDGETS AND REVENUES

Arab Military Expenditure Well Ahead Of World Levels, New StudyShows

Military expenditure accounted for one quarter of all government spending inthe Arab World in 1990 and one tenth of the region's gross national product(GNP), according to a comprehensive new study of Arab military spending. Al-Silah wa al-Khubz ("Arms and Bread"), Military Expenditure in The ArabWorld, 1970-1990 by 'Abd al-Razzaq Faris al-Faris, shows...