Saudi Arabia hopes to raise $13bn by year end from graft purge

Saudi Arabia hopes to raise $13bn by year end from graft purge:

"Saudi authorities expect to raise SR50bn ($13.3bn) for the state’s finances by the end of the year as they complete settlements with the princes and tycoons rounded up in Riyadh’s corruption crackdown, a senior official said.

Some cash has already been transferred to the government from suspects who signed agreements to secure their freedom and more deals are being finalised. The settlements involve the suspects handing over deposits, real estate and corporate assets to the state.

“By the end of the year, SR50bn will have been paid,” the official said."



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