Saudi budget records SR37 billion deficit in 4Q 2023

Saudi budget records SR37 billion deficit in 4Q 2023

Saudi Gazette reportRIYADH — Saudi Arabia’s general budget recorded a deficit of around SR36.99 billion during the fourth quarter of 2023, with total revenues amounting to SR357.98 billion, while total expenses reached about SR394.97 billion, according to a report from the Ministry of Finance.There was a slight increase in the deficit during the period comparing with the previous quarter when it stood at SR35.77 billion. During the third quarter of 2023, the budget recorded total revenues of about SR258.5 billion while total expenses posted at about SR294.3 billion.The ministry report showed that non-oil revenues jumped 53 percent to SR111.5 billion in the third quarter of 2023, compared to about SR72.84 billion in the same quarter of 2022. Meanwhile, oil revenues recorded a fall of 36 percent reaching about SR147 billion in the third quarter of 2023, compared to about SR229 billion in the same quarter of 2022.According to the report, revenues declined by 14 percent reaching about SR258.5 billion in the third quarter of 2023, compared to revenues of about SR301.8 billion in the same quarter of 2022. Total expenses in the budget increased by two percent, reaching about SR294.3 billion in the third quarter of 2023, compared to about