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December 13, 2005       Share:    

Source: http://news.yahoo.com/s/afp/20051212/bs_afp/saudieconomybudget_051212184733;_ylt=AlIXVd4xJ08xAq.VyuF.qHOaOrgF;_ylu=X3oDMTBiMW04NW9mBHNlYwMlJVRPUCUl

Saudi Arabia Announces Record Budget Surplus

(AFP/Yahoo) Oil powerhouse Saudi Arabia said it will post a record budget surplus of $57 billion in 2005 on the back of surging crude prices. Saudi Arabia had initially projected a balanced budget for 2005 using an oil price of $17 a barrel before prices rocketed to $70.

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