SAUDI ARA­BIA TO CON­TINUE SO­CIAL SPEND­ING IN 2015

Gulf Business - - GCC TODAY -

Saudi Ara­bia will con­tinue so­cial spend­ing as it has set apart a bulk of its 2015 bud­get to spend on de­vel­op­men­tal projects and so­cial ben­e­fits de­spite chal­leng­ing global eco­nomic con­di­tions, the King­dom’s fi­nance min­is­ter Ibrahim Alas­saf said. He added that the King­dom’s fis­cal pol­icy is “counter-cycli­cal”, which helped build up net for­eign as­sets when oil prices were high in the last few years.

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