The study of the International Financial Group that the budget surplus of Saudi Arabia will reach a record this time. According to the study report released by the company, there will be a surplus of 28,400 crore Riyals in the budget, which is equal to seven and a half percent of the domestic production.
An economic report published by Belton, an international financial group, predicted that the country would achieve record economic growth. According to the report, a surplus of 28,400 crore riyals will be recorded in the budget at the end of the financial year. This is 7.6 percent of the GDP. A growth of 36,400 crore Rials is expected in public revenue.
And the oil sector income will increase up to 54 percent and reach 86600 crore Rials. According to the economic study report, the public fund utilization will increase by zero decimal six percent to 1045 billion riyals over the budget estimate. The increase in oil revenues in the second quarter of this year has fueled the growth of the wealth system. Ravan Ali, Belton Group wealth expert, said the increase in oil revenue by 90 percent in the second quarter helped achieve a budget surplus of 7,800 crore riyals.