For the fiscal year 2023, the general budget earned surpluses worth around 9 billion Saudi riyals, or 0.2% of the country’s GDP, according to the Saudi Ministry of Finance.
The ministry projected that total expenditures would be in the neighbourhood of 1.114 billion riyals and total revenues would be in the neighbourhood of 1.123 billion riyals in the preliminary declaration of the state’s general budget for the next fiscal year 2023.
Preliminary estimates suggest a real GDP increase of 3. 1%, according to Saudi Finance Minister Muhammad Al-Jadaan, who also said that the optimistic prospects of the Saudi economy for the following year are tied to positive improvements in actual performance during the first half of this year.
He claimed that the improvement in the Kingdom’s trade balance, positive growth rates in the economy, and the private sector’s continued leadership of economic growth were all contributing factors to the real GDP in Saudi Arabia, which was being supported by the growth of the country’s non-oil domestic product.
Origin: Was.
The budget for Saudi Arabia is anticipated to have a surplus of 9.3 billion riyals.
About Author
