Tuesday 21 December 2010

Ahram Online - Saudi Arabia stimulates the economy by spending $154 billion in 2011

The kingdom plans to spend the reserves accumulated during the oil price boom to upgrade infrastructure

Saudi Arabia is to spend SR 580 billion ($154.7 billion) in 2011 and expects a deficit of 40 billion riyals, the finance ministry said in a statement on Monday.

The largest Arab economy and top Opec exporter said the 2011 budget will again focus on education, health and infrastructure projects.

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