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Last Trade - 24/09/20

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Size
Mid Cap
Market Cap £601.5m
Enterprise Value £1.58bn
Revenue £153.0m
Position in Universe 53rd / 748

Saudi king says govt to focus on raising efficiency of public spending

Wed 23rd December, 2015 10:55am
DUBAI, Dec 23 (Reuters) - Saudi Arabia's King Salman said 
the government's economic vision would focus on increasing the 
efficiency of government spending as well as increasing returns 
on investments, according to the Twitter account of the Saudi 
Shura Council on Wednesday. 
    King Salman officially inaugurated a new session for the 
consultative body earlier on Wednesday. He was also cited as 
saying that the economy had maintained real growth despite 
economic volatility and declining oil prices. 
    The world's top oil exporter is facing severe fiscal 
pressure this year as a result of cheap oil prices, running an 
annual budget deficit of over $100 billion and forcing Saudi 
authorities to begin reigning in state spending. 
 
 (Reporting by Ali Abdelaty, Katie Paul, Hadeel Al Sayegh and 
Yara Bayoumy) 
 ((yara.bayoumy@thomsonreuters.com; tel: +9714 391 8301; Reuters 
Messaging: yara.bayoumy.thomsonreuters.com@reuters.net)) 
 
Keywords: SAUDI ECONOMY/
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