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FINANCIAL NEWS
Saudi Arabia spending bill stays near the USD 0.266bn mark
30 Dec 2015
(MENAFN) Saudi Arabia’s incomes fell by over 40 percent on the back of low oil prices, settling at USD 161.9mn, despite record crude to protect market share.
However, because of some events like war in Yemen, the kingdom’s cost bill stayed near USD 0.266bn mark for the second consecutive year, recording USD 259.7mn.
Oil incomes reached a 6-year low in contrast to non-oil incomes, followed by investment revenue, and OPECs plan, led by the kingdom, to keep its 30mn barrels.
Non-oil incomes peaked at USD 43.5mn, a 36.8 percent yearly gain, with investment revenue increasing by 81 percent to record USD 9.85mn.
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