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  • 20-10-14

    Saudi's budget surplus to hit USD39b this year

    (MENAFN) Saudi Arabia's total revenues are expected to reach USD293.21 billion in the current year, or a surplus of USD39.18 billion over the projected budget of USD227.90 billion, Arab News reported.

    This surplus is mostly attributed to oil, with Saudi daily oil exports averaging 6.73 million barrels compared to local daily consumption of nearly 2.3 million barrels.

    The Saudi budget is usually comprised on 90 percent on oil revenues, while the remaining 10 percent is usally generated by the non oil sector.

    Meanwhile, Saudi oil revenues are expected to reach USD208 billion in the January-September period, while the remaining three months of the year are expected to bring in around USD59 billion in oil revenues.

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