TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsSaudi to dig into reserves for the 2015 budget
Saudi Arabia's Cabinet has endorsed a budget for 2015 that projects a slight increase in spending and a significant drop in revenues due to sliding oil prices, resulting in a $39 billion deficit
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
S
audi Arabia's Cabinet has endorsed a budget for 2015 that projects a slight increase in spending and a significant drop in revenues due to sliding oil prices, resulting in a $39 billion deficit.
The kingdom says it will dig into its reserves to cover the difference between $229.3 billion in projected expenditures and $190.7 billion in revenues for the coming fiscal year.
The new budget approved Thursday reflects an expected drop in revenues of around $88 billion from $278.9 billion in 2014. It also shows an increase in spending of about 0.6 percent from the previous year.
Saudi-based investment firm Jadwa Investment says the deficit will be financed comfortably using the Saudi Arabian Monetary Agency's huge stock of net foreign assets, which totaled $736 billion at the end of November. (*****)
