Saudi budget records a deficit of 115 billion riyals in 2024, the highest in 4 years

The actual revenues of the Saudi budget for the year 2024 amounted to 1,230 billion riyals, expenditures 1,345 billion riyals, and the deficit 115 billion riyals, recording the highest level in 4 years, specifically since 2020.

A monitoring conducted by Mal newspaper revealed that the state’s general budget achieved a deficit 12 times during the previous 22 years, as it began in 2002 with a deficit of 21 billion riyals, and continued since 2003 to achieve a budget surplus until 2009, which witnessed a deficit of 87 billion riyals, while the years from 2010 to 2013 witnessed a surplus, before returning to achieving a deficit over the previous 8 consecutive years. In contrast, the general budget achieved a surplus 11 other times during the past 22 years, and the surplus reached its peak in 2008 when a surplus of 581 billion riyals was achieved. According to the monitoring, the highest (actual) revenues witnessed by the general budget of Saudi Arabia were in 2012, when they reached 1,247 billion riyals, and a surplus was recorded in the budget of that year of 374 billion riyals, while the lowest revenues achieved were for the year 2002, which did not exceed 213 billion riyals only. The year 2021 was expected to be the last year of the Saudi budget deficit in the near future, after the budget deficit continued for 8 years from 2014 until 2021. However, after the Saudi budget recorded a surplus for the year 2022 worth 104 billion riyals, the 2023 budget recorded a deficit of 80.9 billion riyals, after estimates indicated a surplus of 16 billion riyals.