19/10/2014
Around 147 billion riyals anticipated budget surplus in Saudi Arabia
Saudi produce and sell crude and prices usually lower than Brent, about four dollars, so the price of Saudi crude in the first nine months of this year to $ 101 a barrel, presumably analysis to keep its price at $ 86 per barrel as medium during the month of October, the remainder of the year are oil revenues usually about 90 per cent of the Saudi budget income, plus a 10 per cent non-oil revenues, according to these data, the Expected oil revenues for Saudi Arabia during the first nine months of the year, some 780 billion riyals (208 billion dollars) in oil revenue will amount to have billion riyals (59 billion dollars) in the remaining three months of the year.
This means that it is expected to meet Saudi oil revenues this year of $ 1 trillion, plus an expected non-oil revenues by around 100 billion, bringing the total budget revenues by 2014, approximately 1.1 trillion riyals, with a surplus of 147 billion riyals ($ 39 billion) on revenue of their State budget in 2014, with the actual surplus will be determined according to the actual expenses spent by the State during the year, which had its capacity 855 billion as revenue, but usually spend State Actually more than you estimated.
As will be determined by the size of the surplus is also in accordance with the so-called ' oil-revenue conversion rate ' which will be converted from oil revenues to the State revenue is actually not up oil revenues which is converted into State revenue, 100 per cent in most cases., price of oil, which is equivalent to the income and expenditure budget in Saudi Arabia this year to 93 dollars a barrel, according to the International Monetary Fund and the Arabic company for petroleum investments, Deutsche Bank. This means that every barrel of oil exported by Saudi Arabia during the first nine months of the year, it had achieved a surplus of $ 12 (45 USD), for total revenue of approximately nine months 780 billion riyals (208 billion dollars).
