Saudi says budget surplus hit $102.9 bn in 2012
Worldwide, Daily news | ankakh | December 30, 2012 6:51
Saudi Arabia said on Saturday that its budget surplus hit 386 billion riyals ($102.9 billion) in 2012 as oil-dominated revenues surged, according to state television. Revenues were expected to reach 1.24 trillion riyals ($330.4 billion) by the end of the year, while expenditure would be 853 billion riyals ($227.5 billion), Al-Ekhbariyah TV reported, citing the finance ministry.
The kingdom had forecast a budget surplus of 12 billion riyals ($3.2 billion) in 2012, with revenues seen at 702 billion riyals ($187.2 billion) and expenditure rising to 690 billion riyals ($184 billion).
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