Saudi projects 2015 budget deficit of 145b riyals

Dubai: Saudi Arabia projected a budget deficit of 145 billion riyals (Dh141.98 billion) in 2015 for the first time since 2009 even as the world’s biggest exporter of crude oil budgeted record spending on education and health care, the ministry of finance said on Thursday.

Saudi projected this budget deficit as the kingdom budgeted for record spending of 860 billion riyals on revenues of 715 billion riyals. Normally oil accounts for 90 per cent of the kingdom’s revenues.

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