December 18, 2018 / 12:52 PM / in 4 months

CORRECTED-Saudi 2019 budget boosts spending in bid to spur sluggish economy

(Corrects source to embargoed finance ministry document not state television)

RIYADH, Dec 18 (Reuters) - Saudi Arabia plans to increase state spending by more than 7 percent next year in an effort to spur economic growth, which has been hurt by low oil prices, an embargoed finance ministry document showed on Tuesday.

Spending is projected to rise to 1.106 trillion riyals ($295 billion) next year, up from an actual 1.030 trillion riyals this year. (Writing by Dubai newsroom; Editing by Andrew Heavens)

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