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FINANCIAL NEWS
Saudi Arabia confirms USD237bn budget for 2017
23 Dec 2016
(MENAFN) Saudi Arabia has approved an USD237.8bn budget for the coming year, which envisages 8 percent increase in spending compared to the recent year of SR825bn.
Moreover, the budget predicted revenue of USD184bn and a deficit of almost USD53bn.
In addition, oil revenues are estimated at SR480bn, 46 percent higher than this year projections, while non-oil incomes are estimated at SR212bn.
The budget took into account initiatives of the National Transformation Program 2020 and allocated SR42bn for the program in 2017.
M
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