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Saudi budget deficit hits over $13bn

November 1, 2018 at 12:53 pm

Saudi riyal, 29 January 2018 [ArgaamPlus/Twitter]

Saudi Arabia’s Finance Ministry announced yesterday that its budget deficit had reached 48.977 billion riyals ($13.65 billion) after the end of the third quarter of this year.

According to the ministry’s report, total revenues for the third quarter had increased 47 per cent compared to the same period last year where non-oil revenues amounted to 211.051 billion riyals ($56.261 billion) and oil revenues reached 452.062 billion riyals ($20.522 billion).

According to the report, Saudi public debt rose to 549.516 billion riyals ($46.652 billion).

The ministry said indicators show  that deficit rates have decreased compared to the same period last year.

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