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FINANCIAL NEWS
Saudi’s surplus to grow 7 folds in 2012: Report
09 Jan 2012
(MENAFN) Jadwa Investments reported that despite the huge increase in spending Saudi Arabia has planned for 2012, the country’s surplus would grow in that year, reported Emirates 24/7.
The report says that due to higher revenues, the country could witness a fiscal surplus over seven times that of 2011.
Jadwa forecasted total oil revenues to hit USD198.3 billion, while non-hydrocarbon income would stand at USD21.3 billion.
It is worth noting that the Kingdom had earlier announced a record spending budget for 2012 at USD184 billion.
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