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Saudi Arabia: shortage in 1998 trade balance is 12 billion dollars
Saudi Arabia, Economics, 1/16/1999
The trade balance sheet in Saudi Arabia recorded a deficit last year due to the loss of income from petroleum and petrochemical exports, after having achieved a surplus for two years.
Economic circles warned of a continuing shortage in the balance sheet that could lead the Saudi government to borrow from abroad, saying that this was a step Saudi Arabia avoided three years ago when it paid its debts.
Saudi Arabia recorded a trade shortage of $12 billion in 98 after a surplus amounting to $250 million in 1997 and $200 million in 96 due to increases in petroleum prices.
Previous Stories:
Saudi Arabia reduces petroleum exports to US, Europe
(1/15/1999)
Saudi Arabia lends Algeria $22 million
(1/8/1999)
Saudi Arabia: 40 companies begin Internet
(1/6/1999)
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