Saudi budget: oil revenues jump 75% in 1H, Kingdom achieves SR135.4 bln surplus

The revenues of the Saudi budget for the first half of the year 2022 jumped to SR 648.324 billion, a 43% rise from the the same period of the previous year, which was SR 452.867 billion, while expenses rose 10% to SR 512.925 billion, compared to SR 464.923 billion in the first half of the previous year.

According to the budget statement, the Saudi budget achieved a surplus of SR 135.399 billion at the end of the first half of this year, due to the significant rise in oil revenues, which jumped to SR 434.063 billion, a surge of 75% compared to the same period of the previous year, which was SR 248.726 billion.

On the other hand, non-oil revenues rose to 214.26 billion riyals by the end of the first half of 2022, a 43% increase from the revenues of the same period of 2021, which was 204.14 billion riyals.

The Kingdom of Saudi Arabia announced its budget for the second quarter of this year 2022 with total revenues of 370,365 billion riyals, and expenses amounting to 292.458 billion riyals, and the surplus during the three months ending on June 30, 2022 amounted to 77.907 billion riyals.