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  • 09-01-12

    Saudi's surplus to grow 7 folds in 2012: Report

    (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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