Saudi Arabia's council of ministers on Saturday agreed a record budget for 2013 with revenues expected to hit $221 billion (167 billion euros), state television Al-Ekhbariyah said.

Revenues in the oil-rich Gulf state are projected to reach 829 billion riyals ($221.06 billion), while expenditure is planned at 820 billion riyals ($218.7 billion), the news channel reported. "The council of ministers has passed the largest budget in the history of the kingdom," it added