Saudi projects $87 bn deficit for 2016: ministry

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Saudi Arabia projected a deficit of $87 billion as it issued its 2016 budget on Monday, the kingdom’s third annual shortfall in a row due to the oil price slump.

Saudi projects $87 bn deficit for 2016: ministry

Saudi projects $87 bn deficit for 2016: ministryRiyadh (Saudi Arabia) – 28 December 2015 15:19 – AFP – Urgent Saudi Arabia projected a deficit of $87 billion as it issued its 2016 budget on Monday, the kingdom’s third annual shortfall in a row due to the oil price slump.Revenues are projected at 513.8 billion riyals ($137 billion), the lowest since 2009, according to a statement posted on the finance ministry website.The kingdom, the world’s largest oil exporter, is projecting spending next year at 840 billion riyals ($224 billion), the statement said.bur-oh/mm

Tags : Ministry, 2016, Deficit, projects, saudi

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