Saudi Arabia has achieved great financial success in the first quarter of this year, the Finance Minister said. The increase in non-commodity yields and revenue from crude exports helped. This is the first time since 2014 that Saudi has achieved so much economic success.
Saudi Arabia has reported a 27.8 billion Riyal for the first quarter of this year. This was achieved through non-oil revenues and crude exports. Finance Minister Mohammed Al Jadan told reporters at a meeting of international economists at Riyadh today.
Expenditure increased by eight percent, but could achieve 48 percent growth in revenue. It proves to be a remarkable improvement in the country's economy, "he said. High yields received through oil marketing, value-added taxes, reduced subsidy benefits, and crude prices have helped improve the country's financial position.
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