Riyadh, Saudi Arabia, (NNN-SPA) : Saudi Arabia succeeded in reducing the expected deficit of the state budget, in the first quarter of 2017, from 13.3 to 6.9 billion U.S. dollars, Okaz local news reported.

The Minister of Finance, Mohammed Abdullah al-Jadaan, highlighted that, the revenues in the first three months were much better than expected.

He held that, things will be better in the second quarter, with this week’s decision, to re-introduce all allowances and financial privileges to government employees.

The minister said that, with the allowances back, the purchase power of the public will improve, and this will lead to further economic growth.

Although the Saudi economy is leading solid steps towards recovery, the minister ensures that, economic reform will continue, especially with the focus on increasing non-oil revenues.