Indicators
Saudi Third-Quarter Fiscal Gap Widens on Oil Revenue Drop
Crude oil storage tanks at an oil refinery and oil terminal in Ras Tanura, Saudi Arabia.
Photographer: Simon Dawson/BloombergSaudi Arabia’s budget deficit deepened in the third quarter, with weaker Brent crude prices and revenues weighing on the oil exporter’s finances.
The kingdom’s budget shortfall in the three months through September stood at 88.5 billion riyals ($23.6 billion), bringing the overall gap since the start of the year to nearly $50 billion, according to estimates from the Ministry of Finance on Thursday.