Saudi Arabia's 2015 budget is based on $60/barrel for Brent crude: Jadwa Investment

28/12/2014 Argaam
Saudi Arabia based its estimates for next year’s general budget on an average daily production of 9.6 million barrels of crude oil at $56 to $60 per barrel, said Jadwa Investment.
 
The firm expects the kingdom to report a budget deficit of SAR 157.4 billon in 2015, which is about 6 percent of Saudi GDP, based on a Brent crudeprice of $60 per barrel.
 
According to data compiled by Argaam, Saudi's ministry of finance recently announced the general budget for next year, projecting a deficit of SAR 145 billion based on budgeted revenue and expenditures of SAR 715 billion and SAR 860 billion, respectively. 

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