Tuesday , August 21 2018

Oil price jump sends Saudi quarterly revenue up 67%

Bloomberg

Saudi Arabia’s second-quarter budget revenue increased 67 percent from the year-earlier period as higher oil prices helped boost income, the country’s Finance Ministry said in a statement.
Revenue climbed to 273.6 billion riyals ($73 billion), boosted by an 82 percent increase in oil revenue, the ministry said on Wednesday. Non-oil revenue rose 42 percent to 89.4 billion riyals, while the budget deficit fell to 7.4 billion riyals, the ministry said.

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