Saudi Reports Quarterly Budget Deficit of 26.2 Billion Riyals - Bloomberg

Saudi Reports Quarterly Budget Deficit of 26.2 Billion Riyals - Bloomberg:

"Saudi Arabia reported a first quarter budget deficit of 26.2 billion riyals ($7 billion) as oil revenue surged, the Ministry of Finance said. Revenue for the three months to March rose 72 percent from a year earlier to 144.1 billion riyals, while expenses fell 2.7 percent to 170 billion riyals, the ministry said in a report on Thursday. Oil revenue more than doubled to 112 billion riyals from 52 billion riyals, while non-oil revenue was 1.3 percent higher at 32.1 billion riyals."



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