Saudi Arabia's non-oil revenue increased by 53% in Q3
Separator

Saudi Arabia's non-oil revenue increased by 53% in Q3

Separator

Saudi Arabia's Ministry of Finance's quarterly budget performance report, the kingdom's oil revenues for the third quarter of 2023 were SR147 billion ($39 billion). The ministry reported that non-oil revenues increased by 53% annually to SR111.5 billion.

With SR294.3 billion in expenses for the quarter that ended on September 30, the Kingdom saw a budget deficit for the fourth consecutive quarter, totaling SR35.77 billion. The report stated that SR258 billion in total revenues were reported. With SR628.637 billion in domestic debt and SR365.623 billion in external debt, the total public debt for the first nine months of the fiscal year was SR994.26 billion.

It will be remembered by observers that the Kingdom revised down its growth estimate for 2023 in a preliminary budget statement released last month. According to Saudi Arabia's Ministry of Finance's quarterly budget performance report released, the kingdom's oil revenues for the third quarter of 2023 were SR147 billion ($39 billion).

The ministry reported that non-oil revenues increased by 53% annually to SR111.5 billion. With SR294.3 billion in expenses for the quarter that ended on September 30, the Kingdom saw a budget deficit for the fourth consecutive quarter, totaling SR35.77 billion. 

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