Saudi Arabia third-quarter non-oil revenue up 48 percent: finance minister | Reuters

Saudi Arabia third-quarter non-oil revenue up 48 percent: finance minister | Reuters:

Saudi Arabia’s third-quarter non-oil revenue jumped 48 percent from the same period last year, to 211 billion riyals ($56.25 billion), its finance minister said on Thursday.

The kingdom, which is working on a number of economic reforms to diversify its oil-reliant economy, had non-oil revenues of 89.4 billion riyals in the second quarter, up 42 percent year on year.

Speaking at an investment conference in Riyadh, Mohammed al-Jadaan said that spending in the third quarter went up by 25 percent.