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2017-12-29 11:30:00

SAUDIS REVENUE WILL UP TO $280 BLN

SAUDIS REVENUE WILL UP TO $280 BLN

BLOOMBERG - Saudi Arabia's plan to erase its budget deficit by 2023 relies on a scenario that would see oil revenue surge by about 80 percent, according to people with knowledge of the matter.

Under a six-year fiscal program, officials predict rising oil prices and output will push income from oil sales to 801.4 billion riyals ($214 billion) from 440 billion riyals this year, the people said on condition of anonymity because they aren't authorized to share the data publicly. It assumes the price of oil will reach $75 a barrel. Non-oil revenue,…

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Tags: SAUDI, ARABIA, OIL, REVENUE
Chronicle:
SAUDIS REVENUE WILL UP TO $280 BLN
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