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Saudi may achieve budget surplus by 2020 -finance minister
December 22, 2016 / 3:27 PM / a year ago

Saudi may achieve budget surplus by 2020 -finance minister

DUBAI, Dec 22 (Reuters) - Saudi Arabia expects to have at least balanced its budget by 2020 and may even post a surplus, Finance Minister Mohammed al-Jadaan told a news conference on Thursday.

Jadaan also said that the government would not surprise the private sector with any new policy initiatives beyond those already announced on Thursday until 2020.

He was speaking after the kingdom announced it had successfully cut into its huge state budget deficit this year and will increase government spending in 2017 to boost flagging economic growth. (Reporting by Hadeel Al Sayegh and Noah Browning; Writing by David French; Editing by Catherine Evans)

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