Reinvesting Aramco IPO money will aid government revenues - minister

DUBAI (Reuters) - Saudi Arabia's finance minister on Monday said that reinvesting money from the initial public offering (IPO) of oil group Saudi Aramco would help to create more revenue channels for the government.

Reuters December 10, 2019 00:07:57 IST
Reinvesting Aramco IPO money will aid government revenues - minister

Reinvesting Aramco IPO money will aid government revenues  minister

DUBAI (Reuters) - Saudi Arabia's finance minister on Monday said that reinvesting money from the initial public offering (IPO) of oil group Saudi Aramco would help to create more revenue channels for the government.

Speaking after the release of the 1.02 trillion riyals($272.00 billion) 2020 budget, Mohammed al-Jadaan said the budget's revenue expectations were conservative in light of the gloomy global economic outlook.

(Reporting by Marwa Rashed and Davide Barbuscia. Editing by Jane Merriman)

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