A report issued by “Saudi Fransi Capital” showed that the revenues of VAT and labor fees during the first half of 2018 amounted to about 35 billion riyals, while the amounts deposited in the accounts of the beneficiaries of the citizen account during the same period amounted to about 15.5 billion riyals, benefiting about 12.5 million citizens.

Non-oil revenues amounted to 142 billion riyals during the first half of 2018, up 49% from the same period of the previous year.

Non-oil revenues amounted to 142 billion riyals during the first half, an increase of 49% over the similar period of the previous year, noting that the application of VAT and expatriate labor fees starting from January 2018 contributed to revenues of more than 35 billion riyals.

The report showed that oil revenues for the first half rose 40% from the similar period of the previous year, pointing out that the average price of Arab Light Oil reached 69 dollars per barrel, up 37% from the similar period of the previous year.

The report pointed out that the application of VAT fees and fees for expatriate workers starting from January 2018 contributed to revenues of more than 35 billion riyals. He pointed out that the International Monetary Fund raised the GDP growth forecast from 1.7TP3T to 1.9%, with the non-oil sector expected to grow to 2.3%, indicating that this will open the way for a significant increase in spending.