ECONOMY

Saudi 2018 budget deficit falls to 136 bln riyals, revenues reach 895 bln riyals

Revenues for the year 2018 amounted to 895 billion riyals, an increase of 14.2 percent from the budget estimate. (Reuters)

Saudi Arabia’s Ministry of Finance announced some of the 2018 fiscal results, with spending reaching 1.03 trillion riyals with expenses of SAR 1.030 trillion, an increase of 5.4 percent from the Saudi budget estimate, and a 10.8 percent increase compared to last year.

Revenues for the year 2018 amounted to 895 billion riyals, an increase of 14.2 percent from the budget estimate, and 29.4 percent growth compared to last year.

The deficit fell to 136 billion riyals, accounting for 4.6 percent of GDP.

The volume of public debt reached 560 billion riyals, accounting for 19.1 percent of GDP, while reserves reached 523 billion riyals, representing 17.8 percent of GDP.

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Last Update: Tuesday, 18 December 2018 KSA 15:31 - GMT 12:31
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