Saudi Arabia's government ran a record budget deficit of SR367 billion ($97.9 billion) in 2015 because of low oil prices, the Council of Economic and Development Affairs said on Monday.

The deficit is "considered an acceptable figure" under the circumstances, with oil languishing at multi-year lows, Hindi bin Abdullah Al-Suhaimi, an advisor to the council, told a media briefing.

State spending in 2015 totalled SR975 billion, more than the SR860 billion originally planned because of extra outlays such as a salary bonus for public employees that marked the accession of King Salman in January, Suhaimi said.

Revenues this year totalled SR608 billion ($162 billion), less than the original target of SR715 billion as prices for oil, on which the economy depends, fell further than expected.

Officials are due to announce Saudi Arabia's 2016 budget plan later in the afternoon.- Reuters