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FinancialNews
30-04-20
KSA's national budget deficit stands at USD9.09 billion
(MENAFN) According to the Finance Ministry, KSA's national budget deficit in the first quarter stood at USD9.09 billion amid oil price collapse and a significant decrease in demand in the wake of the COVID-19 outbreak.
As said in a statement by the ministry, "the total revenue for the first quarter amounts to USD51.1, which has decreased by 22 percent compared to the same period of the last year".
Oil income decreased 24 percent to USD35 billion in Q1, while non-oil income fell by 17 percent to USD17 billion dollars.
During the same quarter of 2019, the Saudi national budget witnessed a surplus of USD7.5 billion with the revenue standing at USD66.3 billion.
MENAFN3004202000450000ID1100096824
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