Friday, August 10, 2018 3:17:57 PM
Saudi Budget Deficit Exceeds 9 Billion Dollars Due To Aggression on Yemen

Saudi Arabia’s budget deficit in the first quarter of 2018 stood at 34.3 billion Saudi riyals ($9.15 billion), at around 18 percent of the total forecast budget deficit for this year, the finance ministry said.

Saudi Arabia, which has been aggressively attacking Yemen for more than three years, expects a deficit of 195 billion riyals, or 7.3 percent of gross domestic product, this year, down from 230 billion riyals last year.

It said oil revenues stood at 113.9 billion riyals while non-oil revenues stood at 52.3 billion riyals, up 2 percent and 63 percent respectively from the same quarter last year.

It is noteworthy that Saudi Arabia has led with the UAE a criminal aggression against Yemen since March 26, 2015, with several countries including America, Britain and France.

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