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FINANCIAL NEWS
Saudi- Surplus to hike 3,000% in 2013: Study
26 Jan 2013
(MENAFN) According to a study issued by a Saudi commercial bank, an unplanned increase in oil prices will increase the country’s budgeted fiscal surplus by 3,000 percent in the current year, reported Saudi Gazette.
The study said that the surplus forecast would hit around USD144 billion by the end of 2013, compared to USD179 billion reported back in 2012 and USD158 billion reported in 2011.
In addition, the study indicates an increase in Saudi net foreign assets to an all time high amounting to USD710 billion at the end of 2013.
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