Saudi Arabia expected that the total revenues for the year 2023 would amount to about 1.123 billion riyals, reaching about 1.205 billion riyals in 2025. While it is estimated that the total expenditures for the year 2023 will be at 1.114 billion riyals, reaching approximately 1.134 billion riyals in 2025, with surpluses of about 9 billion riyals, representing 0.2 percent of the gross domestic product.
The Minister of Finance, Muhammad Al-Jadaan, pointed out that "the positive expectations of the Saudi economy for the next year are an extension of the positive developments in actual performance during the first half of 2022, as estimates of economic growth rates for 2023 and the medium term were reviewed." Noting that “preliminary estimates indicate a real GDP growth of 3.1 percent, supported by the growth of non-oil activities, with the private sector continuing to lead economic growth, and contribute to increasing job creation in the labor market, in addition to improving the Kingdom's trade balance, and continuing in implementing the programs to achieve Vision 2020, and recording economic activities with positive growth rates.”
Source (Al-Sharq Al-Awsat Newspaper, Edited)
