Saudi revenues up 72 pct in Q1, 2017
Xinhua, May 11, 2017 Adjust font size:
Saudi Arabia announced on Thursday an increase in the revenues of the first quarter of 2017 by 72 percent compared with the same period last year, Al Arabiya local news reported.
Saudi Finance Minister Mohammed Al-Jadaan revealed in a press conference that the revenues reached 38.4 billion U.S. dollars and the expenditure was 45.3 billion dollars, representing 19 percent of total expenditures allocated in the current year budget.
He also revealed reduction in the deficit by 71 percent to 6.9 billion dollars compared with the same period of 2016.
He said that the focus of Saudi Arabia at the moment was to achieve the economic vision of 2030 and the protection of the country's local liquidity. He predicted that Saudi Arabia will achieve stable budget by 2020. Endit