28 Dec 2011
(MENAFN) Saudi Finance Minister Ibrahim Al-Assaf announced on national TV that the country’s public debt was reduced tremendously to 6.3 percent of the country’s GDP, down from 102 percent, reported Arab News.
The minister said that the Kingdom allocated USD70.6 billion of the coming year’s budget to development project. He noted that this amount hiked from the USD24.5 billion reported five years ago.
In addition to development projects, welfare and infrastructure projects would be highlighted this year.
It is worth noting that these statements came shortly after the Kingdom announced its new budget which set a record USD184 billion for public spending.
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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BBK offers customers with exclusive Tas’heel and Mazaya Finance to own their dream home
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Bank of Bahrain and Kuwait and Global Payment Services Deliver the First Advanced Fraud Prevention Solution for Wallet Provisioning in the Kingdom of Bahrain
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BBK proudly supports “Celebrate Bahrain” as a gold sponsor in cooperation with BTEA
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BBK and Asia Jewellers announce exclusive offers to its customers at Jewellery Arabia 2024
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BBK partners with Durrat Al Bahrain to offer exclusive financing for Jawhart Al Marjan
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