RIYADH — Saudi Arabia's budget recorded total revenues of SR258.5 billion and total expenditure of SR294.3 billion, bringing the deficit to SR35.77 billion in the third quarter of 2023. This information was contained in the quarterly report on the general budget performance issued by the Ministry of Finance on Wednesday. According to the report, non-oil revenues increased by 53 percent to SR111.5 billion in the third quarter of 2023, compared to about SR72.84 billion in the same quarter of 2022. While oil revenues declined by 36 percent to about SR147 billion in the third quarter of 2023, compared to about SR229 billion in the same quarter of 2022. Revenues declined by14 percent to about SR258.5 billion in the third quarter of 2023, compared to revenues of about SR301.8 billion in the same quarter of 2022. Total budget expenditures increased by two percent to about SR294.3 billion in the third quarter of 2023, compared to about SR287.7 billion in the same quarter of 2022, the report pointed out. In the first nine months of 2023, total revenues amounted to SR854.3 billion, compared to total expenditures of SR898 billion, so that the budget recorded a deficit of about SR43.9 billion during this period. Total oil revenues amounted to SR505.35 billion in the first nine months of 2023, compared to about SR663.08 billion in the same period of the previous year. While total non-oil revenues increased by 22 percent to about SR348.9 billion in the nine months of 2023, compared to SR287 billion in the same period of 2022. Total expenses in the nine months of the current year increased by 12 percent to SR898.2 billion, compared to SR800.6 billion in the same period of the previous year, the report showed.
