RIYADH, Oct. 31 (Xinhua) -- Saudi Arabia's budget deficit has reduced by 60 percent in nine months to 13 billion U.S. dollars, according to Al Arabia Wednesday.
It was highlighted by the Ministry of Finance in a report on the financial performance of the state budget in the third quarter of 2018.
The ministry revealed a year-on-year increase of 47 percent in the revenues to 176.83 billion dollars.
It also stressed that the non-oil revenues reached at the end of September 56.28 billion dollar, a growth of 48 percent compared with the same quarter last year.
Saudi Arabia announced earlier in Oct. to aim at achieving a balanced budget over time, including occasional surpluses or deficits depending on economic conditions.
It has taken serious steps since 2015 after the sharp drops in the oil prices in the international market to be less dependent on oil revenues through diversifying its economy.
