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FINANCIAL NEWS
KSA continues to prioritize low spending
29 Apr 2016
(MENAFN) Saudi plans to return unspent money which was allocated in this year’s budget for the purpose of cutting waste as state revenues weakens due to low oil prices.
In the recent past, government bodies in Saudi Arabia were given considerable freedom to transfer money from one project to another as they wished on the back of sky-high oil.
However, time has changed and ministries are expected to send back the assigned money to the treasury if it’s not fully spent on the projects for which it was initially allocated.
Moreover, the International Monetary Fund and calculate Saudi Arabia may run a record budget deficit of USD120 billion or more this year; in order to pay its accumulated bills.
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02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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