Saudi Arabia Revenues to exceed SR1.17 trillion
Saudi Arabia is heading for a record budget surplus this year, with actual revenues expected to exceed SR1.17 trillion, SR315 billion more than what was projected in the budget set by the Finance Ministry, economists and researchers said.
The government’s spending on salaries, projects and services is expected go up as a result of a hike in revenues, an economic report said.
Economists said greater government spending would continue to play a significant role in driving the Kingdom’s growth in the coming years.
Huge oil revenues have strengthened the confidence of companies and investors in the Kingdom for the fourth year in a row, they said.