Saudi Arabia posts budget surplus of $27.68 billion in 2022
- Date: 10-Mar-2023
- Source: Arab Weekly
- Sector:Oil & Gas
- Country:Saudi Arabia
Saudi Arabia posts budget surplus of $27.68 billion in 2022
RIYADH-
Saudi Arabia recorded a budget surplus of 103.9 billion riyals ($27.68 billion) in 2022, beating its own estimates, as higher oil prices boosted government revenues by 31%, according to finance ministry data.
The world's top oil exporter recorded real GDP growth of 8.7% in 2022 leading to the Gulf state's first budget surplus in almost a decade.
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