Saudi 2013 budget sees revenues over $220 billion

1:56 PM, Dec 29, 2012   |    comments
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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.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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