Cars drive past the King Abdullah Financial District in Riyadh, Saudi Arabia December 18, 2018. REUTERS/Faisal Al Nasser
RIYADH (Reuters) - Saudi Arabia plans to increase state spending by 7 percent next year in an effort to spur economic growth, which has been hurt by low oil prices, according to a 2019 state budget announced by King Salman on Tuesday.
Spending is projected to rise to an all-time high of 1.106 trillion riyals (£233.96 billion), the king said in a nationally televised speech.
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