"The Saudi Arabian government has written off another $5.3bn in loans taken out by citizens, according to local media.
The Finance Ministry said on Saturday it had consumed loans worth SR1.84bn ($490m) that had been taken out with state-owned financial institutions by 20,792 Saudi nationals.
Finance Minister Ibrahim Al-Assaf said the ministry also would pay SR16bn ($4.3bn) in instalment payments to the Real Estate Development Fund and the state-owned Saudi Credit Bank after King Abdullah exempt nationals from making payments for two years."
'via Blog this'
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