Saudi budget deficit estimated at $12 billion for 2002
Saudi economists have raised two suggested solutions to next year’s projected $12-billion budget deficit. The first option is to sell the county’s $80 million governmental assets abroad, or to borrow funds from Saudi banks and issue treasury bills in the local markets, reported Al-Quds Al-Arabi.
The Saudi cabinet approved the new general budget for the year 2002 on Saturday, December 8. The budget carries a 45-billion riyal ($12 billion) deficit, composed of revenues set at SR 157 billion, offset by SR 202 billion in expenditures. — (menareport.com)
© 2001 Mena Report (www.menareport.com)