Markets rise as Saudis maintain spending in 2015 budget

DUBAI: Gulf stock markets rose on Thursday as Saudi Arabia released a 2015 state budget that will keep spending high, reassuring the region that economic growth is unlikely to be hurt much by the plunge of oil prices.

The Saudi budget envisions state spending at a record 860 billion riyals ($230 billion) next year, up 0.6 percent from the 2014 budget plan.