December 29, 2015

Saudi Arabia reports record high $98bn budget deficit on low crude prices

Saudia Arabia’s budget deficit swelled considerably in 2015, as plummeting oil prices have taken their toll on the kingdom’s revenues. Riyadh estimated the next year’s deficit at $87 billion, which will make the third consecutive budget shortage.

The deficit is "considered an acceptable figure" under the circumstances, with oil standing at multi-year lows,.. Read more.

RT

Related,
Saudi Arabia hikes petrol prices by 40% at the pump - Al Jazeera

Saudi Arabia unveils 2016 budget - Al Arabiya
King: Saudi economy strong enough to meet challenges - Saudi Gazette

Saudi Arabia's mounting security challenges - Al Monitor

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