Saudi Arabia can maintain current spending: Finance Minister

Updated 22 January 2013
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Saudi Arabia can maintain current spending: Finance Minister

RIYADH: Saudi Arabia is able to maintain its current level of government spending in the medium term and beyond, Finance Minister Ibrahim Al-Assaf said.
Asked whether strong growth in government spending was sustainable, Al-Assaf told reporters: “We have the... ability to continue this scale of spending.
“We have the reserves, as well as we are reducing our debt almost to zero. So we can continue in the medium term and even beyond that,” he said.
The Kingdom has set a record state budget of SR820 billion for 2013, 19 percent higher than the amount budgeted for 2012.


China welcomes US proposals to visit to discuss trade

Updated 22 April 2018
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China welcomes US proposals to visit to discuss trade

BEIJING: China on Sunday said it welcomed plans by top US officials to visit the country to discuss trade and economic issues, amid tensions between the world’s two largest economies.
“The Chinese side has received information that the US side hopes to come to Beijing to discuss economic and trade issues. China welcomes this,” a short statement on the commerce ministry’s website said.
US Treasury Secretary Steven Mnuchin said on Saturday he was continuing to have discussions with his Chinese counterparts to try to resolve the differences over trade, and said he may travel to China.
“I am not going to make any comment on timing, nor do I have anything confirmed, but a trip is under consideration,” Mnuchin said.