09:27 GMT12 May 2021
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    Saudi Arabia's Finance Ministry adopted the 2016 budget, with a deficit of 326 billion riyals ($87 billion) due to the ongoing fall in oil prices.

    DUBAI (Sputnik) — According to a the ministry's press release, the budget expenditures in 2016 will amount to $224 billion, which is 14 percent lower than the actual value of the current year. The main items of expenditure are defense and security, to which the government allocates $57 billion.

    Budget revenue in 2016 is projected at $137 billion, which is 15 percent lower than the actual revenue in 2015.

    According to the data, the 2015 budget deficit amounted to $98 billion, exceeding the budgeted level 2.5 times.

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    Tags:
    deficit, budget, Saudi Arabia
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