Saudi Arabia’s cabinet has approved SR990 billion ($263.89 billion) budget spending for the fiscal 2021 with an estimated revenue of SR849 billion and a deficit of SR141 billion, or 4.9 per cent of the Gross Domestic Product (GDP). The cabinet session was held virtually and chaired by King Salman bin Abdulaziz Al Saud.

In other news, Russian Deputy Prime Minister Alexander Novak on Sunday said that work was continuing to expand Saudi Aramco’s role in Russian energy projects.

To read about this and more of the week’s news from the Kingdom, click here.

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