Saudi financial results for second quarter show promise

12 Oct

The Ministry of Finance has published its second quarter budget performance report for this year, which included a summary of many financial indicators and key data that reflects the government’s commitment to transparency and fiscal disclosure. The fiscal indicators of Q2 showed total revenues amounted to approximately SR274 billion ($73 billion), an increase of 67 percent year-on-year. It is worth noting that non-oil revenues have reached SR89.4 billion, up 42 percent on last year, which means that the government is continuing to focus its attention on growing such revenues and, by so doing, will gradually decrease its dependence on oil....READ MORE

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