Saudi government to spend $385 billion in five years
The Saudi Council of Ministers on Monday passed the Ninth Five-Year Development Plan (2010-14), which has allocated SR1.44 trillion ($385 billion) for various infrastructure and welfare projects. The amount is 67 percent higher than the previous plan, the Arab News reported.
Under the new plan, Saudi Arabia's King Abdullah said, the lion’s share of government spending (50.6 percent) is directed for the manpower development sector that covers education and training. Social development and health care will get 19 percent of total allocations, economic resource development 15.7 percent, transportation and telecommunications 7.7 percent while municipal services and housing 7.0 percent.