26 Dec 2014
(MENAFN) Saudi Arabia announced that it expects to register USD38.6 billion in deficit in its budget for 2015 due to the sharp decline in oil prices, though it also plans to raise its public spending nonetheless, Arab News reported
According to the new budget for 2015, which was approved by the cabinet, public spending for 2015 is projected at USD229.3 billion, which is slightly higher compared with USD227.71 billion planned for this year, while expecting that revenues will reach USD190.7 billion, a decline by USD37.28 billion in comparison to the estimated revenue for this year.
The budget deficit projected by Saudi Arabia is the first one which the kingdom will register since 2011 and the largest ever for the Kingdom and it is the result of the continuous decline in oil prices as oil makes up more than 90 percent of public income in Saudi Arabia.
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more