Saudi Arabia’s price range deficit fell by 40% sequentially in Q2 to $9.2bn, bringing the entire year-to-date determine to $24.9bn. Regardless of the advance from Q1, that is already inside touching distance of the price range forecast’s full 12 months deficit determine of $26.9bn. Revenues elevated by $10bn from Q1 to $80.4bn regardless of oil costs tumbling in early April following the rollout of the brand new US tariff regime. Oil revenues ticked up final quarter by $600mn to $40.5bn, whereas larger tax revenues drove non-oil revenues to a document $40bn. Q2 is often the high-point for tax revenues, pointing to a weaker price range efficiency and better deficit for Q3.
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