Browse
related articles
Saudi Arabia announces record budget for 2013
- Saudi Arabia: Sunday, December 30 - 2012 at 03:33
Saudi finance minister Ibrahim Alassaf has said the cabinet has set a record state budget for next year, as high oil prices allow heavy spending on welfare and infrastructure projects, helping it avoid the severe social unrest seen in other parts of the Arab world, Reuters has reported. The government plans to spend SR820bn ($219bn), 19% higher than the SR690bn that the world's largest oil exporter budgeted for 2012, Alassaf said. "The 2013 budget points to a continued strong expansionary fiscal stance," said Monica Malik, chief economist at investment bank EFG-Hermes in Dubai, who predicted actual spending would rise by 10% or more next year.
Related Content
Article Options
Disclaimer »
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
