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FinancialNews


  • 25-04-19

    Saudi Arabia posts 1st budget surplus since 2014

    (MENAFN) Saudi Arabia hit USD7.4 billion in its budget surplus from January to March 2019 to mark the first surplus to be recorded since 2014.

    Revenues during the first three months of the year registered a 48 percent jump, Minister of Finance Mohammed bin Abdullah Al-Jadaan.

    Addressing the Financial Sector Conference, the finance minister confirmed the Kingdom to have posted an 8 percent surge in its total expenditure for the first quarter of the year.

    Al-Jadaan affirmed "this year's budget clearly attests to the fact that the Kingdom's fiscal policy is progressing towards achieving its Vision 2030-related objectives."

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