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Riyadh unveils record spending plans

Riyadh set out SR1.1trn ($295bn) in spending plans for the year ahead, in the budget unveiled on 18 December. King Salman Bin Abdelaziz described it as “the largest budget in the history of the kingdom of Saudi Arabia”. The headline figure marks a 7% increase on the total outlay for 2018.Among measures included in the budget is a further extension of the SR1,000-a-month cost of living’ allowance for public sector employees.

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African Energy Gulf States Newsletter