Saudi Arabia records a 2.9 billion riyals budget shortfall in Q1 2023.

The Saudi budget recorded a deficit of 2.9 billion riyals in the first quarter of 2023, compared to a surplus of 57.5 billion in the same period last year.

The Saudi Ministry of Finance said on Sunday that government revenues were 280 billion riyals ($74.62 billion) in the first quarter of 2023, while expenditures were 283.8 billion rials ($75.63 billion), with an estimated deficit of 2. 9 billion rials. .

This is stated in the general report on the execution of the state budget for the first quarter of 2023, published today by the ministry.

According to the data, oil revenues were 178.6 billion rials ($47.60 billion) and non-oil revenues were 102.3 billion rials ($27.26 billion).

Source: Saudi Arabian media.

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