Financial and Banking News


Saudi Cumulative Budget Deficit Reaches $47bn by end-1986

The total budget deficit recorded by the Saudi Government over the four fiscal years from 1403/04 to 1406/07 (1983/84-1986) has reached SR172.7bn ($47.4bn), according to MEES calculations. This emerges from the publication by SAMA of actual revenue and expenditure levels for 1405/06 (1985/86), which indicate an actual deficit of SR50bn ($13.7bn), and MEES public finance estimates for...