Saudi finances weaken as foreign exchange reserves slide | GulfNews.com:
"Saudi Arabia ramped up oil production to an all-time record high of 10.6m barrels a day in June, 200,000 barrels per day (bpd) higher than in May.
Yet the slide in oil prices to below $60 a barrel means Riyadh is likely to report an “eye-watering” budget deficit of 17.5 per cent of gross domestic product this year, about $130bn, according to Capital Economics.
This is a sharp increase on the 2014 deficit of 2.3 per cent and the biggest shortfall since the early 1990s."
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