Saudi Arabia to post huge general budget surplus
A recently publicized report forecasts the Kingdom of Saudi Arabia to record a SR 180 billion (some US$48 billion) general budget surplus by the end of the current year. The report, cited by Asharq Al Awsat, projects the total public spending of Saudi Arabia to reach SR 330 billion by the end of the current year.
The report shows that the volume of consumption spending by households in Saudi Arabia rose to SR 501 billion last year, up from SR 441 billion in 2000. This figure translates into an average 14% rise in current prices.