Reuters: US Dollar Report: Actual Saudi 2012 spending exceeded budget -state TV

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Actual Saudi 2012 spending exceeded budget -state TV Dec 29th 2012, 11:55 RIYADH | Sat Dec 29, 2012 6:55am EST RIYADH Dec 29 (Reuters) - Actual spending by Saudi Arabia's government totalled an estimated 853 billion riyals ($227.5 billion) in 2012, well above the 690 billion riyals in the original budget plan, state television quoted the finance ministry as saying on Saturday. Actual revenues this year, buoyed by high oil prices, were 1.24 trillion riyals compared to the original plan for 702 billion riyals, the report said. The Saudi government traditionally makes conservative projections for both spending and oil revenues, leaving room for actual expenditure and budget surpluses to come in larger than initially forecast.

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