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FINANCIAL NEWS
Saudi Arabia predicts 480bn riyals oil income
26 Dec 2016
(MENAFN) Saudi Arabia budgeted oil income at 480bn riyals at an oil prices of USD50.1 per barrel in the coming year.
Next year, the government aims a budget deficit of 198bn riyals or 7.7 percent of GDP, implying 33 percent and 39 percent reduction.
The kingdom projected total profits at 962bn riyals, higher by 31 percent than actual and 35 percent compared to the budget in this year.
Moreover, KSA aims to achieve a balanced budget in 2020 by applying many methods, involving increasing non-oil revenue, benefiting from efficiency savings and others.
M
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