VOL.XXXVI

NO.49

6-SEPTEMBER-1993

Financialand Banking News

ECONOMIC POLICY

Aba al-Khail Defends Saudi Economy

SaudiFinanceandNational Economy Minister Muhammad Aba

al-Khailhas offered a robust defence of the Saudieconomy

ina letter to the New York Times.Responding to articles

which appeared in the Times on 22 and 23 August, the Minister pointed out that SaudiGovernmentexpenditureduring

thelast20yearshad focussed onbuilding a modern infrastructure and a comprehensive welfare system. Headded

thatthe...