Saudi Ministry of Finance – BOL News Staging

Saudi Arabia needs oil prices at $70 to $75 for surplus

December 16, 2021 by Muhammad Zubair

RIYADH: Saudi Arabia’s planned 2022 budget surplus of SR90 billion ($24 billion) depends on oil prices staying at $70 to $75/barrel, Arab News quoted Jadwa, a Saudi investment bank, as saying. Brent oil was trading at $73.01/barrel at 3:53pm Saudi time on Wednesday. The Saudi Ministry of Finance announced this week it expects revenues valued … Read more

Saudi Arabia applies spending cap despite oil revenues: minister

November 26, 2021 by Muhammad Zubair

RIYADH: Saudi Arabia, which reported last month a surplus in its first quarterly budget surplus since the first quarter of 2019, is applying restraints on spending even, as oil prices are trading near multiyear high, Arab News reported. The Saudi Ministry of Finance has started to apply the spending cap regardless of the oil price and revenues, … Read more

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