Monday, March 7, 2011

Minister: Saudi King plan to be covered by reserves

Saudi Finance Minister Dr. Ibrahim Al-Assaf, said that the decisions made by the King Abdullah bin Abdul Aziz Al Saud to pump billions of dollars for development purposes, are designed to serve the citizens. He stressed that they cover all sectors whether the civil service sector, the military or the private sector. According to him, these decisions amount to about SR110 billion (some US$29 billion). In order to cover them there will be a need to use reserves.

King Abdullah bin Abdul Aziz Al Saud
� 2011 Al Bawaba (www.albawaba.com)

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Source: http://www1.albawaba.com/main-headlines/minister-saudi-king-plan-be-covered-reserves

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