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FINANCIAL NEWS
Saudi surplus may hike 28 times: Jadwa Investments
24 Aug 2012
(MEANFN) Saudi Arabia’s budget surplus could rocket by nearly 28 times in 2012 as revenue will likely be far higher than the level projected by the world’s largest oil exporter, according to a key Saudi investment firm, reported Emirates 24/7.
The Gulf Kingdom, the largest Arab economy, projected a budget surplus of SR12 billion when it announced its highest ever expenditure of SR690 billion for 2012 and forecast revenue at SR702 billion.
In a study sent to Emirates 24/7, the Riyadh-based Jadwa Investments said it expected the actual surplus to swell to nearly SR306 billion, the second highest since the record balance of SR581 billion in 2008.
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