Saudi budget revenues improved 4% in the third quarter

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The Saudi Ministry of Finance revealed in the actual budget data for the first nine months of 2020, released yesterday, that state revenues improved 4 percent during the third quarter of this year. The actual budget included government spending of 725.7 billion riyals ($ 193.5 billion), compared to revenues of 541.6 billion riyals ($ 144.4 billion), during the first nine months.
According to the budget figures for the first three months, revenues during the third quarter of this year amounted to 215.6 billion riyals, compared to spending of 256.3 billion, and the deficit of 40.7 billion riyals (10.8 billion dollars). The third-quarter revenue increased from the previous year in 2019, during which it recorded 207.2 billion riyals, registering a 4 percent growth. These actual numbers come amid expectations expressed by the country’s Ministry of Finance at the end of last September that revenues for the current year will reach 770 billion riyals and expenditures at about 1068 billion riyals (284.8 billion dollars), representing a total deficit of nearly 298 billion riyals.



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