The Ministry of Finance released the preliminary statement for Saudi Arabia’s 2023 budget, which included the ministry’s projections of revenues amounting to 1.123 trillion riyals, and expenditures estimated at 1.114 trillion riyals, resulting in a surplus of 9 billion riyals, equivalent to 0.2% of GDP.

Meanwhile, it projected that budget revenues for the current year, 2022, would reach approximately 1.222 trillion riyals, and expenditures at 1.132 trillion riyals, with a surplus of 90 billion riyals, representing 2.3% of GDP.

In a related development, the Ministry estimated the 2024 budget at 1.146 trillion riyals in revenue and 1.125 trillion riyals in expenditures, resulting in a surplus of 21 billion riyals, which constitutes 0.5% of GDP.

The Ministry of Finance’s estimates projected the 2025 budget at 1.205 trillion riyals in revenue, and expenditures of 1.134 trillion riyals, resulting in a surplus of 71 billion riyals, equivalent to 1.7% of GDP.

Last year’s actual budget for 2021 recorded a deficit of approximately 73 billion riyals, 2.3% of GDP), while revenues amounted to 965 billion riyals and expenditures to 1.039 trillion riyals.