Saudi projects $53 bn deficit in 2017

AFP . Riyadh | Update:

Saudi Arabia on Thursday projected a 2017 budget deficit of $53 billion, a drop of almost half from a record shortfall reported last year after the world’s top oil exporter was hit by falling crude prices.

According to a cabinet statement, next year’s budget projects spending of 890 billion riyals ($237 billion) and revenues of 692 billion riyals ($184 billion).

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