Saudi 2018 budget approved with USD 52 bln deficit

RIYADH, Dec 19 (KUNA) -- The Saudi budget for 2018 was announced Tuesday with a 195 billion Riyal (USD 52 billion) deficit.
Saudi King Salman bin Abdulaziz Al-Saud, who chaired the cabinet's session, said that revenues will be at 783 billion Riyals (USD 208 billion) while the expenditure will be at 978 billion Riyals (USD 260 billion).
King Salman said that the government programs managed to lower dependency on oil by 50 percent. He affirmed that anti-corruption efforts must continue to protect public wealth. (end) od.gta