“Beltone” Financial expected the Saudi budget to achieve a surplus of 284 billion riyals this year, equivalent to 7.6 percent of GDP in 2022. It also expected an increase in Saudi government revenues by 364 billion riyals during this fiscal year due to the rise in oil revenues. It also expected an increase in oil revenues by 54 percent to 866 billion riyals, at the expected average price of Brent of 107.3 dollars per barrel, and the production level at 10.8 million barrels per day.
As for expenditures, “Beltone: expected government expenditures to be rationalized, with a slight increase of 0.6 percent to reach 1045 billion riyals.
According to Beltone Financial Holding, the Saudi budget achieved a surplus of 78 billion riyals in the second quarter of this year, mainly due to the 90% increase in oil revenues. While the increase in non-oil revenues was slight in the second quarter of the year, due to the fact that the comparative quarter of last year witnessed an increase of 200 percent.
Source (Al-Arabiya.net Website, Edited)
