Saudi Arabia's non-oil revenues up 48 pct in Q3

Source: Xinhua | 2018-10-26

Saudi Arabia said on Thursday that its non-oil revenues increased by 48 percent in the third quarter to 56.25 billion U.S. dollars, Al Arabiya local news reported.

Saudi Finance Minister Mohammed al-Jadaan told the Future Investment Initiative 2018 that the government spending in the third quarter went up by 25 percent.

The Saudi government expects to run a budget deficit of 128 billion riyals (34.1 billion dollars) next year, compared with a 195-billion-riyal deficit projected in the original budget of this year, Jadaan said.

Saudi aims to achieve a balanced budget over time, he added.