DUBAI (Reuters) – Saudi Arabia posted a deficit of 109.2 billion riyals ($29.12 billion) in the second quarter this year as low oil prices impacted state coffers, according to a finance ministry quarterly budget performance report.
The world’s largest oil exporter saw oil revenues decline by 45% year-on-year in the second quarter to $25.5 billion while total revenues dropped 49% to nearly $36 billion.
Total expenditures in Q2 dropped annually by 17% to around $65 billion, the document showed.
(Reporting by Davide Barbuscia; Editing by Jon Boyle)
