03 Oct 2011
(MENAFN) Saudi Finance Minister, Ibrahim al-Assaf, said that the Kingdom’s USD130 billion planned expenditure for 2011 would be compensated by the increase in the country’s oil revenues, reported Arabian Business.
Al-Assaf added that the plan to increase spending, which was issued by a Royal decree, would cover the social sector in addition to housing projects for Saudis.
He also said that three years ago, the Kingdom launched a five-year USD400 billion development plan, which was the biggest spending package relative to gross domestic product (GDP) among the world’s top 20 developed countries, in order to improve the country’s infrastructure, including airports and roads.
It is worth noting that over the past ten years, Saudi budget spending more than doubled to a record USD154.6 billion planned for the current year.
15 Jan 2025
BBK Signs Strategic Partnership with Bahrain Airport Company to Develop “Express Cargo Village”
08 Jan 2025
Bank of Bahrain and Kuwait and Global Payment Services Deliver the First Advanced Fraud Prevention Solution for Wallet Provisioning in the Kingdom of Bahrain
26 Dec 2024
BBK proudly supports “Celebrate Bahrain” as a gold sponsor in cooperation with BTEA
17 Nov 2024
BBK and Asia Jewellers announce exclusive offers to its customers at Jewellery Arabia 2024
12 Nov 2024
BBK partners with Durrat Al Bahrain to offer exclusive financing for Jawhart Al Marjan
05 Nov 2024
As part of its digital transformation journey, BBK adds Google Wallet to its range of digital wallets
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more