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Saudi Arabia records a budget shortfall of 2.9 billion riyals in Q1 2023.

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Ziad Najjar
Ziad Najjar is an Egyptian author who studied business and finance in the United States and has a keen interest in media. He combines his expertise in these fields to create informative and engaging works accessible to a broad audience.

The Saudi budget recorded a deficit of 2.9 billion riyals in the first quarter of 2023, compared to a surplus of 57.5 billion in the same period last year.

The Saudi Ministry of Finance said on Sunday that government revenues were 280 billion rials ($74.62 billion) in the first quarter of 2023 and expenditures were 283.8 billion rials ($75.63 billion), with an estimated deficit of 2. 9 billion rials. .

This is stated in the state budget performance report for the first quarter of 2023, released today by the department.

According to the data, oil revenues were 178.6 billion rials ($47.60 billion) and non-oil revenues were 102.3 billion rials ($27.26 billion).

Ministry of Finance:
Total state budget for the first quarter of 2023:
Revenues: 280 billion rials
Spending: 283 billion rials
Oil revenue: 178 billion rials
Non-oil revenues 102 billion rials https://t.co/4ZigHY0L0q

– Emirate of Mecca Al Mukarrama Region (@makkahregion) May 7, 2023

Source: Saudi Arabian media.

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