Saudi Arabia posted a record budget surplus of US$77.5bn in 2006 largely due to soaring oil prices, reported Arab News. Hamad Al-Sayari, governor of the Saudi Arabian Monetary Agency, said the Kingdom achieved the surplus despite record public spending of about US$105bn, which went mostly to development projects and the repayment of some public debt.
[AMEInfo.com]



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Posted: 09|27|07 at 7:10 am. Filed under: News.