Saudi posts big decline in fiscal deficit in third-quarter as oil revenues rise | Reuters:
Saudi Arabia on Wednesday reported a third-quarter fiscal deficit of 7.3 billion riyals ($1.95 billion), a big drop from the 48.7 billion riyals reported a year earlier thanks to a surge in oil revenues.
The latest deficit figure was close to the 7.36 billion riyals recorded in the second quarter.
“The improvement in fiscal performance is reflected by the decrease in the deficit with positive oil and non-oil growth, compared to the same period in 2017, and the planned budget,” Finance Minister Mohammed al-Jadaan said in a statement.
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