Saudi budget deficit hits 57.96 billion during 9 months

The Saudi budget achieved a deficit of about 57.962 billion riyals during the first 9 months of 2024, as Saudi budget revenues at the end of the first 9 months of this year amounted to 956.233 billion riyals, and expenditures amounted to 1014.196 billion riyals.

According to a statement by the Ministry of Finance, the deficit will be financed through external debt, announcing the financing of 12.4 billion riyals for the deficit of the first quarter of this year, 15.3 billion riyals for the budget deficit of the second quarter of 2024, 30.2 billion riyals for the budget deficit of the third quarter of the same year, with a total deficit of 57.962 billion riyals for the 9-month period of 2024 through borrowing, away from reserves.

The Saudi Ministry of Finance announced the budget for the third quarter of the current year 2024 for the Kingdom of Saudi Arabia, with revenues amounting to 309.208 billion riyals, expenditures amounting to 339.443 billion riyals, and the deficit amounting to 30.235 billion riyals.