Saudi budget sees first quarterly surplus

RIYADH: Saudi Arabia recorded its first quarterly budget surplus in more than two years as higher crude prices boosted the kingdom’s finances.

The Gulf nation’s surplus during the third quarter was about 6.7 billion riyals (US$1.8bil or RM7.5bil), trimming the year-to-date deficit to 5.4 billion riyals (RM5.9bil), according to a report published by the Ministry of Finance on Sunday.