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Saudi Arabian Tadawul market rises for the 14th consecutive trading session

06 March 2012

While the Dubai bourse DFM (off 3.70%) showed frst signs of exhaustion Tuesday, the Tadawul All Share Index continued to rise to reach 7,399.87 points. High oil prices and good macro-economic prospects have kept the gauge in Riyadh moving upwards. According to Kuwait's Global Investment House, "KSA reported an actual budget surplus of SR306bn ($82bn) against earlier projections of a deficit of SR40bn." The 2011 surplus was the 2nd highest surplus in the decade reported. Global added in a study released earlier today, that "the healthy fiscal position has further facilitated the Saudi Arabian government to reduce its debt further from SR167bn in 2010 to SR135.5bn in 2011 which translates into a decline of 19%. The country's public debt position has improved significantly from the highs of 82% of GDP seen in 2003 to just 6.3% in 2011." Year-to-date, the Tadawul bourse has gained 15.30%.

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