Strong oil prices will allow Saudi Arabia to bask again in a budget surplus this year despite a sharp increase in public expenditure as part of the country’s counter-crisis fiscal measures, according to local analysts.
One scenario projected the surplus at around SR44 billion but another more optimistic forecast put it at as high as SR164 billion.
The surplus is against a budgeted deficit of SR70 billion assumed by the world’s dominant oil power in its 2010 budget and compares with an actual shortfall of nearly SR87 billion in 2009, its first in seven years.
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