Riyadh – (SPA)
Saudi budget
The budget deficit stands at 5.2 billion riyals, supported by non-oil revenues
Dubai – Al Arabiya.net
Posted on: August 03, 2023: 05:00 PM GST Last updated: August 03, 2023: 06:34 PM GST
The Saudi budget recorded total revenues of about 314.82 billion riyals in the second quarter of 2023, compared to total expenses of about 320.09 billion riyals, so the deficit stood at about 5.27 billion riyals by the end of the second quarter of this year.
According to the preliminary statement issued by the Saudi Ministry of Finance, today, Thursday, non-oil revenues rose by 13% to 135.08 billion riyals in the second quarter of 2023, compared to about 120 billion riyals in the same quarter of 2022.
While oil revenues declined by 28% to about 179.74 billion riyals in the second quarter of 2023, compared to about 250.36 billion riyals in the corresponding quarter of 2022.
Total revenues declined by 15% to about 314.8 billion riyals in the second quarter of 2023, compared to revenues of about 370.37 billion riyals in the corresponding quarter of 2022.
On the other hand, total expenditures in the budget increased by 9% to about 320.09 billion riyals in the second quarter of 2023, compared to about 292.46 billion riyals in the corresponding quarter of 2022.
First half 2023
At the level of the first half of 2023, total revenues amounted to about 595.8 billion riyals, compared to total expenses of about 603.95 billion riyals, so that the budget recorded a deficit of about 8.18 billion riyals in the first half of this year.
Total oil revenues amounted to 358.3 billion riyals in the first half of 2023, compared to about 434.06 billion riyals in the first half of 2022, a decrease of 17%.
While total non-oil revenues increased by 11% to about 237.42 billion riyals in the first half of 2023, compared to 214.26 billion riyals in the first half of 2022.
Total expenditures in the first half of this year increased by 18% to about 603.95 billion riyals, compared to about 512.93 billion riyals in the first half of 2022.
The quarterly budget performance report came as follows:
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2023-08-03 13:00:00