High Oil Prices Drive Saudi Budget Surplus

摘要

Higher oil prices and crude production have put Opec kingpin Saudi Arabia on track to post a larger-than-expected budget surplus this year. The kingdom said it is heading for a budget surplus of 102 billion Saudi riyals ($27 billion) for 2022, which is 12 billion riyals higher than previously forecast. Total revenues are estimated at 1.234 trillion riyals, with spending at 1.132 trillion riyals. GDP growth of 8.5% is expected for this year, which exceeds a December 2021 forecast for this year of 7.5%