Saudi Arabia’s budgeted fiscal surplus for 2013 could end the year nearly 30 times higher because of an expected surge in oil export earnings as a result of high prices, the National Commercial Bank (NCB) said in a study on the Saudi budget.
The Kingdom projected revenue at SR829 billion in 2013 and expenditure at a record high of SR820 billion, with a surplus of SR9 billion.
NCB said strong oil prices would allow Saudi Arabia to record another large current account surplus albeit slightly lower than in 2012 and 2011. It forecast the surplus at around $144 billion this year against $179 billion in 2012 and $158 billion in 2011.
Saudi fiscal surplus to soar 30 times in 2013 | A1SaudiArabia.com
No comments:
Post a Comment