Saudi Arabia expects its state budget deficit to widen to 187 billion riyals ($49.86 billion) next year, or 6.5% of gross domestic product (GDP)from a projected 131 billion riyals for this year, the finance minister said on Thursday. The world’s largest oil exporter expects revenues of 833 billion riyals for 2020, down from 917 billion riyals projected for 2019, Mohammed al-Jadaan told a news briefing. Spending is expected at 1.02 trillion riyals for 2020 versus 1.048 trillion projected in 2019, the minister said ahead of the final budget announcement later this year. Saudi Arabia had recently restrained crude production by more than called for by an OPEC-led supply deal to support oil markets. But concern about slowing […]