GulfBase GCC Cap Indices
IndexLevelChg%
Large Cap3,958 0.85
Med Cap3,943 0.35
Small Cap5,129 0.41
Micro Cap8,650 0.61

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Ticker Price Volume
QNBK 147 119,837
SABIC 95.89 2,447,604
MMG 12.55
WARBABANK 265 805,745
GFH 0.72
EMAAR 7.25 3,887,625
SECO 22.85 669,460

Saudi Arabia Budget 2010

Source: NCB Capital

A show of strength

The year 2009 will go down as one of the most eventful in the Kingdom’s history. The first half of the year was characterized by a precipitous decline in the oil sector while the recovery in oil prices starting in the spring revived activity unexpectedly quickly. During the year, Saudi Arabia posted its first budget deficit in eight years as government revenues fell by over 54% to SAR505bn. Despite increased spending, the actual deficit of SAR45bn fell short of the budgeted SAR65bn, thanks to a rebound in crude oil prices. The average YTD OPEC basket oil price already stands at USD60 per barrel, significantly higher than the USD44 assumed in the 2009 budget.

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