Higher oil prices mean Saudi Arabia is on track to halve its deficit to $42.5bn for 2017, the lowest figure since 2014.

Latest figures for the first nine months of 2017 show revenue rising by 23% year-on-year thanks to a 32% increase in oil prices (from $38.6/B to $50.9/B). For 2017 as a whole revenue is on track to rise by 22% to $160.7bn (see table) – though oil prices have risen so far in Q4, they rose by more in Q4 2016.

The nine-months deficit of $32.4bn is down by 40% from the...