The budget surplus in Saudi Arabia rises to 57.5 billion riyals

The Saudi Ministry of Finance announced the actual general budget of the Kingdom for the first quarter of 2022, as revenues in the first quarter budget amounted to 278 billion riyals, compared to expenses of 220.5 billion riyals, and the budget surplus amounted to 57.5 billion riyals in the first quarter of the year.
According to the Saudi newspaper, “Al-Riyadh” today, Monday, the value of oil revenues is 183.7 billion riyals, taxes on income, profits and capital gains are 4.1 billion riyals, taxes on goods and services are 60 billion riyals, and other revenues are 21.4 billion riyals.

The budget figures revealed that the internal debt amounted to 579.4 billion riyals, and the external debt amounted to 379.2 billion riyals, bringing the total debt to 958 billion riyals.

The data show an increase in the total actual revenues for the first quarter of 277.96 billion riyals, an increase of about 36% compared to the first quarter in 2021. Oil revenues in the first quarter amounted to 183.7 billion riyals, while non-oil revenues amounted to 94.26 billion riyals.

The same data confirms an increase in tax revenues in the first quarter of this year by 9.6 billion riyals from the same quarter of last year, in which it recorded about 63.9 billion riyals, an increase of 14%.