Riyadh: Saudi Arabia’s finance ministry on Monday said that the country’s general budget recorded a surplus of SR14.14 billion during the third quarter of 2022.
The budgetary revenues amounted to about SR301.86 billion, and expenditures stood at SR287.72 billion, said a report from the ministry. The report further states that the kingdom’s budget from the beginning of 2022 till the third quarter stood at SR.950.19 billion and expenditures reached SR800.67 billion, while the surplus amounted to SR149.54 billion.
Oil revenues for the third quarter were more than SR229 billion, bringing the total oil revenues from the start of the year to SR 663 billion, with an increase of 67 percent as compared to SR396.7 billion during the same period last year.
The revenue generated from the non-oil sector during the third quarter exceeded SR72.84 billion, bringing the total from the beginning of the year to SR287 billion, with a decrease of four percent compared to SR299.54 in the same period in 2021.
The health and social development sector garnered SR153 billion which accounts for 111 percent of the allocations amounting to SR138 billion, whereas the military sector registered SR159 billion out of the total allocations of SR170.9 billion for the fiscal year.
“Education sector garnered SR146 billion, representing 79 percent of the budgetary allocations amounting to SR185 billion for the current financial year.” said the ministry in a statement, Saudi Gazette reported.
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