The Saudi Ministry of Finance revealed budget figures for the first quarter of 2023, which recorded revenues of 280.9 billion riyals. Saudi Arabia's budget figures showed that non-oil revenues rose 9 percent year-on-year.
The value of expenses during the first quarter of this year amounted to about 283.9 billion riyals, while the deficit levels came at 2.91 billion riyals, compared to a surplus of 57.5 billion riyals in the same period last year. During the first quarter of 2023, capital expenditures increased by 75 percent year-on-year. While the value of oil revenues amounted to 178.6 billion riyals and non-oil revenues were 102 billion riyals.
The Saudi government had estimated the 2023 budget at a surplus of 16 billion riyals, an average of 4 billion riyals quarterly surplus.
Source (Al-Arabiya.net Website, Edited)
