RIYADH, 5 August – Saudi Arabia has posted a SR77.9 billion ($20.8 billion) budget surplus during the second quarter of 2022, the Ministry of Finance reported.
During that period, the state’s total revenues amounted to over SR370.4 billion, up 49 per cent year-on-year, while expenditures reached SR292.5 billion.
This represents a 16 per cent increase over the same period.
Oil revenues were up by 89 per cent year-on-year, reaching SR250.4 billion, while non-oil revenues slightly rose by 3 per cent year-on-year, amounting to SR120 billion.
Saudi Arabia’s public debt on June 30 2022 stood at SR966.5 billion, up from SR958.6 billion as of the end of March.
The SR7.9 billion increase in public debt during the second quarter is due to the SR25.4 billion rise in domestic debt, which was partly offset by a SR17.5 billion principal repayment in the Kingdom’s external debt over the same period, data compiled by Arab News showed. — Arab News
