The Saudi Council of Ministers held a session chaired by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, during which the state’s general budget for the new fiscal year (2023) was approved.
The Saudi Ministry of Finance had announced, in a preliminary statement, the estimated budget for the year 2023, with estimated revenues at 1.123 trillion riyals, and expenditures at 1.114 trillion riyals, with a surplus of 9 billion riyals. According to the preliminary statement of the budget, total revenues for the year 2025 are expected to be about 1.205 trillion riyals, and expenditures are about 1.134 trillion riyals.
The Saudi budget recorded a surplus of about 14.14 billion riyals in the third quarter of 2022, after recording revenues of about 301.87 billion riyals, compared to expenses of about 287.73 billion riyals. In addition, from the beginning of this year until the end of the third quarter, the Saudi budget recorded revenues of about 950.19 billion riyals, compared to expenses of about 800.65 billion riyals, recording a surplus of about 149.54 billion riyals.
Source (Al-Arabiya.net Website, Edited)
