Saudi Arabia expects revenues of $328bn (SR1.234tn) next year and has recorded a budget surplus of $27.13bn (SR102bn) this year.
The budget surplus, reported by Saudi-owned Al Arabiya TV, is higher than previously expected.
It was marked up SR12bn ($3.2bn) on a stronger than expected economic performance. GDP in Saudi Arabia will see a growth of 8.5 per cent.
Saudi Arabia budget forecast
In a pre-budget statement issued in September the Kingdom was expecting growth to be around 8 per cent and this time last year it was predicting 7.5 per cent growth.
The GDP forecast for the year ahead is a more modest 3.1 per cent.
Inflation for 2022 was recorded at 2.6 per cent and is expected to fall to 2.1 per cent in the year ahead.
A budget for 2023 has been set with the Kingdom expecting revenues of SR1.234tn ($328bn) and spending of SR1.32tn ($352bn).
This would result in a surplus of 2.6 per cent of GDP.
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