Saudi Arabia budget surplus hit $102.9 billion in 2012

By Agence France-Presse
Saturday, December 29, 2012 10:20 EDT
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Offshore oil platform rigs in Port Fourchon, Louisiana, June 14, 2010. Crude oil prices drop in thin trading amid uncertainty over whether a deal to avert the US "fiscal cliff" can be reached by a year-end deadline AFP image
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Saudi Arabia said on Saturday that its budget surplus hit 386 billion riyals ($102.9 billion) in 2012 as oil-dominated revenues surged, according to state television.

Revenues were expected to reach 1.24 trillion riyals ($330.4 billion) by the end of the year, while expenditure would be 853 billion riyals ($227.5 billion), Al-Ekhbariyah TV reported, citing the finance ministry.

The kingdom had forecast a budget surplus of 12 billion riyals ($3.2 billion) in 2012, with revenues seen at 702 billion riyals ($187.2 billion) and expenditure rising to 690 billion riyals ($184 billion).

Agence France-Presse
Agence France-Presse
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