Riyadh – Mubasher: Saudi Arabia’s general budget’s deficit is expected to decline to SAR 18 billion, representing 0.6% of gross domestic product (GDP), according to a recent report by Jadwa Investment.
The deficit is likely to reach SAR 182 billion in 2017, representing 6.8% of GDP, versus SAR 402 billion in 2016, Jadwa said.
Saudi Arabia’s revenues are forecast to rise to SAR 708 billion in 2017, up from to SAR 528 billion in 2016, the firm noted, adding that expenses retreated to SAR 890 billion, compared to SAR 930 billion last year.
The research firm anticipated the country’s revenues to leap to SAR 911 billion and expenses to increase to SAR 929 billion in 2018.
The report showed that the country’s general debt is forecast to grow to SAR 433 billion in 2017, representing 16.2% of GDP, from SAR 317 billion in 2016.
General debt is likely to rise to SAR 628 billion in 2018, to represent 21.7% of GDP, the firm noted.
The average income of the Saudi Arabian citizen is likely to increase in 2017 and 2018, and the unemployment rate is likely to decline for citizens above 15 years.
