Saudi Arabia Sees 2021 Deficit Narrowing to 5.1% of GDP

© Bloomberg. A partly constructed tower stands on a road near the King Abdullah Financial District (KAFD) in Riyadh, Saudi Arabia, on Tuesday, July 28, 2020. Saudi Arabia suffered a simultaneous decline in oil and non-oil revenue as the global pandemic combined with lower energy prices to jolt the kingdom’s public finances. Photographer: Maya Anwar/Bloomberg


(Bloomberg) — Saudi Arabia expects the budget deficit in 2021 to narrow to 145 billion riyals, or about 5.1% of GDP, according to a statement published by the Finance Ministry.

  • Kingdom earlier estimated the 2020 deficit to reach nearly 300 billion riyals, or 12% of GDP.

©2020 Bloomberg L.P.

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