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Saudi posts record 98 billion deficit in 2015: Ministry
(MENAFN- The Peninsula)
Riyadh: OPEC member Saudi Arabia posted a record $98 billion budget deficit in 2015 due to the sharp fall in oil prices the finance ministry said on Monday.
Revenues were estimated at 608 billion riyals ($162 billion) well below projections and 2014 income while spending came in at 975 billion riyals ($260 billion) ministry officials announced at a press conference in Riyadh.
AFP
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