Saudi budget for Q3 2022: Government pays SR59.4 bln debts ‎within 9 months… Total debt up to SR971.8 bln by Q3 end

The public debt of the Kingdom of Saudi Arabia rose to 971.812 billion riyals at the end of the third quarter of this year, an increase of 33.802 billion riyals from its levels at the end of the year 2021, which was 938.01 billion riyals, and this increase comes despite the government’s payment of 59.4 billion riyals during the period past year 2022

According to the budget statement, the increase came from local issuances and borrowings, amounting to 93.228 billion riyals during the first 9 months of 2022, while about 41.924 billion riyals were paid out of the principal debt during the same period.

According to what was disclosed by the statement, the level of external debt decreased to 361.761 billion riyals, a decline of 17.502 billion riyals from its levels at the end of 2021, which was 379.263, which means that the government did not issue any international debt during the first 9 months of this year, Rather, it paid 17.5 billion riyals of foreign debts.

It is noteworthy that the Ministry of Finance announced the budget of the Kingdom of Saudi Arabia for the third quarter of this year, with revenues amounting to 301.87 billion, expenditures 287.73 billion, and a surplus of 14.14 billion.

The revenues for the first 9 months of 2022 amounted to 950.2 billion riyals, expenses 800.7 billion riyals, and a surplus of 149.5 billion riyals.

Oil revenues amounted to 229.02 billion riyals, an increase of 55% from the revenues of the third quarter of 2021, which was 147.98 billion riyals, while non-oil revenues amounted to 72.85 billion riyals, down 24% from the revenues of 2021, which were 95.4 billion riyals.