Saudi Arabia’s non-oil revenues rose by 9 percent to reach $29.73 billion (SR 111.51 billion) in the first quarter of 2024, compared to the same year-ago period, the Ministry of Finance said.
In its quarterly budget performance report, the ministry said the Kingdom posted total revenues of SR 293.43 billion in the same quarter, while its public spending amounted to SR 305.82 billion.
According to official data, carried by Arab News, total revenues increased 4 percent as compared to Q1 of 2023.
In the first quarter of the current year, the Kingdom posted a budget deficit of SR 12.39 billion with oil revenues reaching SR181.92 billion.
The report added that oil revenues rose 1.9 percent as compared to the first quarter of 2023.
Military spending in the first quarter of 2024 was recorded at SR58.85 billion, a 16 percent decline from the same period in 2023.
Follow us on
