Saudi records budget surplus of AED 149 bn in first 9 months

Surplus is supported by an increase in crude oil revenues

Saudi's budget

Saudi Arabia recorded a general budget surplus of 149.5 billion riyals ($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 950.2 billion riyals ($253 billion) in the first nine months of this year, while expenditures totaled 800.7 billion riyals ($213 billion).

Public revenues were 301.87 billion riyals ($80.3 billion) in Q3 2022, while expenses were 287.73 billion riyals ($76.5 billion), resulting in a surplus of 14.14 billion riyals ($3.7 billion).

According to previous data released by Saudi’s MoF in August, the country’s budget turned into a financial surplus of 135.4 billion riyals ($36.1 billion) in the first half of 2022, following a deficit of 12.1 billion riyals ($3.22 billion) in the first half of 2021.