Saturday, December 29, 2012 11:05 am
Saudi 2013 budget sees revenues over $220 billion
The Associated Press
The budget foresees a $2.4 billion surplus.
The Cabinet meeting Saturday reported that revenues in 2012 amounted to $330 billion with $227 billion expenditure, leaving a $103 billion surplus. That surplus was due to the government's calculating oil prices at $70 per barrel, while the actual price stood at around $100 per barrel.
The 2013 allocation for education has risen by 21 percent to $54.3 billion. The budget includes $26.6 billion for health and social affairs services and $9 billion for municipality services.