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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