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FinancialNews


  • 01-11-18

    Saudi deficit records sharp 60 percent decline

    (MENAFN) Saudi Arabia recorded a significant 60 percent decline in its budget deficit during the third quarter of this year, reaching USD13 billion.

    The revenues of Saudi Arabia registered a 47 percent year-on-year jump, standing at USD176.83 billion during the same period.

    The figures were unveiled in a report the Saudi Ministry of Finance issued on the financial results of the state budget by this year's third quarter.

    In the report, the ministry showed Saudi Arabia's non-oil revenues to have posted a 48 percent boost in September, hitting USD56.38 billion.

    It comes as the Kingdom set its target to secure a balanced budget over time, covering occasional surpluses or deficits, based on economic conditions.

    MENAFN0111201800450000ID1097646794

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