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Saudi to stick to 2010 budget

31 May 2010

Saudi Arabia's finance minister, Ibrahim Al-Assaf has said the kingdom will not push spending beyond its 2010 plan to keep inflation under control and plans to cut its debt before any new bond issues are considered, Reuters has reported. "We don't have plans to increase the spending more than what we have now ... because the programme we have now is at the right size and will not put pressure on resources and capacity of the economy, hence inflationary pressures," the minister told the news service.

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