13-05-11, 04:15 PM
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Social spending spree may push Saudi inflation up
Saudi Arabia may see inflation from massive social spending packages announced over the past month, the kingdom's finance minister said.
Ibrahim al-Assaf said, however, that he hoped any impact would be muted from any spending. Saudi Arabia's elderly King Abdullah announced last week $93bn in social handouts, on top of another $37bn announced less than a month earlier, as popular protests sweep across the region.
"Any increase in spending could have an impact on inflation," Ibrahim al-Assaf said. "But if there is any impact we hope it is temporary and limited."
Saudi annual inflation slowed to a 10-month low of 4.9 percent in February, with growth in housing and transport costs subsiding, though analysts said the slowdown was temporary due to robust global food prices and crude above $100 per barrel.
Asked about funding for the spending programme, Assaf said: "The funding will come from the budget."
Assaf said earlier in March the kingdom's economy is in "excellent" shape and a rise in oil prices will boost the strong economic and financial position of the world's top oil exporter.
Source: Reuters
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للمراقب والأديب/ حسن خليل ، على
جهوده الكبيرة في الرقي بالأقسام الأدبية
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لجعل أقسامة متميزة كما هو ، سيما في
نجاح مسابقة " المقالة الأدبية " .
8/1/2012م
الأدارة .
يَا أَيُّهَا النَّاسُ إِنَّا خَلَقْنَاكُم مِّن ذَكَرٍ وَأُنثَى وَجَعَلْنَاكُمْ شُعُوبًا وَقَبَائِلَ لِتَعَارَفُوا إِنَّ أَكْرَمَكُمْ عِندَ اللَّهِ أَتْقَاكُمْ إِنَّ اللَّهَ عَلِيمٌ خَبِيرٌ
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