December 19, 2017 / 2:32 PM / a year ago

Saudi king says 2018 state budget to be kingdom's largest

FILE PHOTO - Saudi Arabia's King Salman bin Abdulaziz Al Saud arrives to deliver an address to Saudi consultative Shura council as Saudi Crown Prince Mohammed bin Salman stands next to him, in Riyadh, Saudi Arabia, December 13, 2017. Saudi Press Agency/Handout via REUTERS

RIYADH (Reuters) - Saudi Arabia’s 2018 state budget will be the largest in the kingdom’s history, King Salman said in a speech on Tuesday ahead of the release of the budget later in the day, state-owned Al Arabiya television reported.

He was also quoted as saying that Riyadh had moved back the target year for eliminating its budget deficit to 2023, from 2020.

Reporting by Katie Paul and Rania El Gamal, Writing by Andrew Torchia, Editing by Sylvia Westall

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