Riyadh, Saudi Arabia – Saudi Arabia’s general budget recorded a deficit of $9.86 billion in the fourth quarter of 2023, the Ministry of Finance reported. The total revenues for the period amounted to $95.45 billion, while total expenses reached about $105.32 billion. This reflects a slight increase in the deficit compared to the previous quarter, which stood at $9.54 billion.
During the third quarter of 2023, the budget revealed total revenues of $69.06 billion and total expenses of $78.51 billion. The ministry’s report highlighted a notable 53 percent surge in non-oil revenues, reaching $29.73 billion in the third quarter of 2023, compared to $19.42 billion in the same quarter of 2022. In contrast, oil revenues experienced a 36 percent decline, amounting to $39.20 billion in the third quarter of 2023, compared to $61.11 billion in the corresponding quarter of 2022.
The overall revenues showed a 14 percent decrease, totaling $69.06 billion in the third quarter of 2023, compared to $80.42 billion in the same quarter of 2022. Concurrently, total expenses in the budget increased by two percent, reaching $78.51 billion in the third quarter of 2023, compared to $76.73 billion in the same quarter of 2022.
