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- Saudi Arabia Lines Up Energy Deals Before Joint Russia Meeting
- Saudi Economic Affairs Council Reviews State Budget Performance
- Iran's Rial Currency Falls to Near-record Lows on European 'Snapback' Sanctions Threat
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22/12/2009 00:00 AST
Saudi Arabia expects its fiscal deficit to rise to SR70 billion ($18.67 billion) in 2010 from a planned SR45 billion this year as it raises investment despite a fall in revenues, the finance ministry said on Monday.
The kingdom, Opec's top oil exporter and a member of the Group of 20 leading economies, forecasts expenditures of SR540 billion for 2010, down from an expected SR550 billion this year.
The Gulf Arab state expects revenues to fall from SR505 billion to SR470 billion this year. But it also plans to increase spending on investment projects by 16 per cent to SR260 billion.
"The national budget will continue to focus on enhancing economic development and improving investment enviroment that supports strong and balanced economic growth," the finance ministry said.
Reuters
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The Peninsula
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