Saudi Arabia recorded a general budget surplus of SAR149.5 billion ($39.7 billion) in the first nine months of 2022, according to new data.
The surplus is supported by an increase in crude oil revenues as a result of the significant increase in crude oil prices in international markets as a result of the Russian-Ukrainian war’s ramifications.
According to data released by the Saudi Ministry of Finance (MoF), revenues totaled SAR950.2 billion ($253 billion) in the first nine months of this year, while expenditures totaled SAR800.7 billion ($213 billion).
Public revenues were SAR301.87 billion ($80.3 billion) in Q3 2022, while expenses were SAR287.73 billion ($76.5 billion), resulting in a surplus of SAR14.14 billion ($3.7 billion).
Read more: Oil revenues send Saudi’s budget surplus to $21 bn
According to previous data released by Saudi’s MoF in August, the country’s budget turned into a financial surplus of SAR135.4 billion ($36.1 billion) in the first half of 2022, following a deficit of SAR12.1 billion ($3.22 billion) in the first half of 2021.
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