Saudi Arabia has reduced surplus in budget for 2023
2022.12.07 11:22
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Saudi Arabia has reduced surplus in budget for 2023
Budrigannews.com – According to reports from Saudi media, Saudi Arabia approved a budget for 2023 that is estimated to have a surplus of 16 billion riyals and is worth 1.114 trillion riyals ($296 billion).
According to Al Arabiya TV, which is owned by Saudi Arabia, revenues of 1.13 trillion riyals are anticipated for the coming year. The excess is comparable to 0.4% of GDP (Gross domestic product).
A surplus of 102 billion riyals, or 2.6% of GDP, is predicted for 2022, with total revenues of 1.234 trillion riyals and spending of 1.132 trillion riyals.
From a preliminary budget forecast, GDP growth is expected to slow to 3.1% in 2023 from 8.5% this year. This is an upward revision of half a percentage point.
