Featured News

Saudi Arabia budget deficit drops 71 per cent in first quarter

Saudi Arabia

Saudi Arabia

Saudi Arabia finance minister Mohammed al-Jadaan said on Thursday the country’s budget deficit dropped by 71 per cent in the first quarter of 2017 .

As a result of drastic cuts in spending, the deficit dropped to $6.93 billion in the first three months .

The cuts followed sharp drop in Saudi oil revenues.

READ ALSO  Brent crude oil goes above $50
To Top