Saudi Arabia projects $53 bn deficit in 2017

Saudi Arabia on Thursday projected a 2017 budget deficit of $53 billionSaudi Arabia on Thursday projected a 2017 budget deficit of about $53 billion and a lower than previously expected shortfall for this year after government cost-cutting in response to lower oil prices. Expenses next year will reach 890 billion riyals ($237 billion) against predicted revenues of 692 billion riyals ($184 billion), cabinet said in a statement.

Share this article