Saudi Arabia on Thursday projected a 2017 budget deficit of $53 billion, a drop of almost half from a record shortfall reported last year after the world’s top oil exporter was hit by falling crude prices.

According to a cabinet statement, next year’s budget projects spending of 890 billion riyals ($237 billion) and revenues of 692 billion riyals ($184 billion).

Al Saud dynasty which has been ruling the oil-rich Arab peninsula for dozens of years has squandered the national financial potentials to serve the personal whims of its members and fund the Western conspiracies against the regional countries.

This family has been also involved in genocidal wars against a number of Arab countries either directly as in Yemen or by supporting the takfiri terrorist groups as in Iraq and Syria.

Source: AFP