Saudi Budget 2024: The government expands sectoral and ‎regional spending

Under the chairmanship of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, the Council of Ministers approved today, Tuesday, the state’s general budget for the fiscal year 2024. The state estimated revenues for next year at 1.17 trillion riyals, compared to expenditures amounting to 1.25 trillion riyals, so the deficit is 79 billion riyals.

The 2024 budget showed that the state aims to expand sectoral and regional spending, and strengthen the financial position by maintaining safe levels of government reserves to enhance the Kingdom’s ability to deal with external shocks, as stated in the Ministry of Finance’s statement accompanying the budget.