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Saudi Electric Supply Company (SESCO) is looking to strengthen its presence in the GCC and the company’s general manager believes markets in the region will see an upturn this year.
Jordan revised its 2011 budget which saw state spending increase to US$8.9 billion to cover higher welfare costs.
Saudi Arabia plans to spend US$154.7 billion in 2011 on infrastructure and education to spur growth in the country's economy.
Standard & Poor's Ratings Services said that ongoing political tensions in the Kingdom of Bahrain (BBB/Watch Neg/A-3) and Sultanate of Oman (A/Watch Neg/A-1) remain a significant issue for the credit standing of both sovereigns. This is despite the Gulf Cooperation Council's (GCC's) March 10 announcement of a US$20 billion economic aid support package over ten years, to be shared equally between the two governments.
Dubai's government approved a 2011 budget that sees the budget deficit cut to US$1 billion due to the authorities continuing to cut spending.