August 13, 2017 / 10:36 AM / 3 days ago

Saudi Q2 budget deficit shrinks from year ago, revenue up 6 pct

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RIYADH, Aug 13 (Reuters) - Saudi Arabia's state budget deficit shrank by a fifth from a year earlier in the second quarter of this year as revenues rose moderately and spending fell marginally, finance ministry figures showed on Sunday.

Revenues increased 6 percent from a year ago to 163.9 billion riyals ($43.7 billion); oil revenues jumped 28 percent to 101.0 billion riyals because of higher international oil prices.

Spending dropped 1.3 percent to 210.4 billion riyals in the second quarter, leaving a deficit of 46.5 billion riyals compared to about 58.4 billion riyals a year earlier. (Reporting by Katie Paul, Writing by Andrew Torchia)

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