Business

287 Bn Riyals Additional Credit in 2010 Budget

The government approbated last Tuesday the opening of additional credit in the State’s general budget for the fiscal year 2010 with a total amount of 287.35 billion riyals (approx. US$1.35 Bn), in the light of its discussion on the memorandum of the Finance Minister about the increase of the actual execution of supporting oil derivatives and the domestic benefits. The government has referred the draft to parliament to finalize the constitutional procedures related to it.

In 2008 the government also endorsed additional credit to the amount of 660 million riyals; and in 2006 approved an additional credit with the amount of 422 million riyals.