Author: Don Obrien

Saudi Arabia posts budget surplus in Q3 -Finance Ministry

Flames are seen at the production facility of Saudi Aramco’s Shaybah oilfield in the Empty Quarter, Saudi Arabia May 22, 2018. REUTERS/Ahmed Jadallah/File Photo

CAIRO, Oct 31 (Reuters) – Saudi Arabia posted a budget surplus of around 6.7 billion riyals ($1.79 billion) in the third quarter, its first surplus since the first quarter of 2019, largely driven by oil revenues, the Finance Ministry said on Sunday.

Revenues reached 243.4 billion riyals and spending 236.7 billion riyals. Oil revenues were 147.9 billion riyals.

($1 = 3.7508 riyals)

Reporting by Ahmad Elhamy

Our Standards: The Thomson Reuters Trust Principles.

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