FINANCIAL NEWS

Saudi’s fiscal surplus to reach SR162bn by 2020

01 Mar 2017

(MENAFN) By 2020, planned financial measures under the Saudi government’s Fiscal Balance Program, will result in the government saving almost SR362bn, leading to SR162bn fiscal surplus.

Accordingly, oil revenue will hit SR586bn by the cited year, compared to SR520bn implied in the program’s baseline scenario.

In addition, the program also estimates that initiatives will result in SR100bn worth of gross saving this year alone.

Meanwhile, a further 29 percent of these savings will come from energy price reform, while new measures to enhance the efficiency of spending and raise non-oil revenue.

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