The Saudi Ministry of Finance revealed that the Kingdom's quarterly revenues in the third quarter of this year amounted to 243 billion riyals, compared to expenses of 237 billion riyals. This indicates a surplus of 6.7 billion riyals was recorded in the third quarter, which is the first quarterly surplus since the first quarter of 2019.
The kingdom's oil revenues amounted to 147.9 billion riyals in the third quarter, while the total budget revenues grew by 13 percent in the third quarter on an annual basis. Oil revenues in the third quarter grew by 60 percent on an annual basis, and by 12 percent compared to the second quarter.
According to the Saudi Ministry of Finance, the current account or government reserves to finance the deficit have not been affected since the beginning of 2021. The Saudi budget deficit has shrunk since the beginning of 2021, to 5.4 billion riyals. While the revenues of the Saudi budget amounted to 248 billion riyals in the second quarter of 2021, compared to expenses of 252.7 billion riyals, bringing the budget deficit quarterly to 4.6 billion riyals. Noting that non-oil revenues grew by 31 percent to 116 billion riyals in the second quarter.
Source (Al-Arabiya.net website, Edited)
