Thu, 2021-09-30 15:13
RIYADH: Saudi Arabia is expecting to see a budget deficit of SR52 billion in 2022, according to a budget forecast from the ministry of finance.
The Kingdom’s revenues are expected to reach SR903 billion, while spending SR955 billion.
Saudi Arabia is expected to report a narrower budget deficit this year, amid rising oil prices and a more positive post-pandemic outlook.
The Kingdom’s budget deficit narrowed sharply in the first six months of this year due to more fiscal discipline and increasing non-oil revenue. It dropped 92 percent to SR12 billion.
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Saudi budget discipline saved $133bn in 4 years: finance ministerSaudi budget deficit narrows by 92 percent with more tax-income, oil sales