Saudi 2019 budget boosts spending in bid to spur sluggish economy

by

Saudi Arabia plans to increase state spending by more than 7 percent next year in an effort to spur economic growth, which has been hurt by low oil prices, according to a 2019 budget released by the finance ministry on Tuesday.

Spending is projected to rise to 1.106 trillion riyals ($295 billion) next year, up from an actual 1.030 trillion riyals this year, Saudi state television quoted the budget as saying.

RIYADH (Reuters)

You may also like

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: