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FINANCIAL NEWS
Saudi’s oil revenues to reach USD 102.96bn
12 Jun 2016
(MENAFN) Last year, oil contributed 42.7 percent to Saudi’s real GDP and represented 73.1 percent of whole financial incomes.
Accordingly, oil prices will average to 45 per barrel and Saudi production will remain at 10.2mn bpd, while oil revenues will drop to reach USD 102.96bn.
Moreover, the non-oil sector is predicted to moderate further this year to below 3 percent, as the economic slowdown weighs on businesses.
In addition, the oil sector secured 36.6 percent of all deals in 2015, which amounted to almost USD 0.42bn among the period 2008-2015.
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