Saudi Arabia to invest SAR 246 bln in development projects

23/12/2018 Argaam

 

Saudi Arabia is set to allocate a sum of SAR 246 billion from 2019 state budget for development projects, Abdulaziz Al-Zoum, governor of General Authority for Competition (GAC), said in a tweet.

 

“Manipulative practices may lead to a hike in prices from 20 percent to 35 percent,” Al-Zoum added.

 

GAC is expected to launch a crackdown on manipulative practices through reporting to government entities and inspection committees of violations. Else, the companies or the concerned persons should unveil these manipulative practices.

 

Saudi Arabia recently announced the budget for 2019, with estimated revenue of SAR 975 billion, Argaam reported.

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