Real estate related economic and financial news covering the MENA region.
Saudi revenue seen at $295bn amid high oil prices
Jun 21, 2012
Saudi-based lender Samba Financial Group (Samba) has said the kingdom is poised to collect $295bn a year in government revenue from 2012 to 2016 amid high oil prices, Saudi Gazette has reported. Hydrocarbon earnings are expected to be $265bn a year in the same period, the bank said. Real gross domestic product growth will average 5% for the period, while inflation will be stable at an average of 5.5%, it said.