Saudi Arabia’s Q1 budget deficit aligns with expectations; non-oil revenues rise by 9%

Saudi Arabia’s Q1 budget deficit aligns with expectations; non-oil revenues rise by 9%

RIYADH: Saudi Arabia recorded a budget deficit of SR12.4 billion ($3.3 billion) in the first quarter of 2024, comprising 16 percent of the annual deficit forecast set by the Ministry of Finance at the end of the previous year.

This suggests that it aligns with expectations, showcasing the Kingdom’s progress in accelerating spending related to Vision 2030 implementation, alongside its careful fiscal management. Saudi Arabia’s Q1 budget deficit aligns with expectations; non-oil revenues rise by 9%