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02-10-21
Saudi Arabia to post surplus of about SR27 billion in 2023
(MENAFN) The Ministry of Finance declared that Saudi Arabia is estimating budget excesses from 2023 as the economy is witnessing a “noticeable and anticipated uptick.”
The ministry further stated in a report that the Kingdom is going to mark an excess of about SR27 billion in 2023, increasing to SR42 billion in 2024. That compares with an estimated shortfall of SR85 billion in the current year and SR52 billion in the next year.
The additional income is going to come from government initiatives and reforms that is aiming at improving and developing non-oil revenues as the pandemic diminishes.
It also said that Government returns are going to fall to SR903 billion in the coming year from SR930 billion in 2021, however; will have reached SR992 billion by 2024.
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