The Saudi Ministry of Finance announced an investigation Budget in the first quarter of 2022Revenues amounted to 278 billion riyals, while general expenses amounted to 220.5 billion riyals.
The value of oil revenues amounted to 183.7 billion riyals, taxes on income, profits and capital gains 4.1 billion riyals, taxes on goods and services 60 billion riyals, and other revenues 21.4 billion riyals.
The Saudi “Finance” said that the expenses included compensation for workers of about 125.7 billion riyals.
The Saudi budget figures included a surplus of 57.49 billion riyals.
The budget figures revealed that the internal debt amounted to 579.4 billion riyals, while the external debt amounted to 379.2 billion riyals, bringing the total debt to 958 billion riyals.
With regard to sectoral spending, the Saudi budget revealed spending 7 billion riyals on public administration, 43.5 billion riyals on the military sector, 22.3 billion riyals on security and administrative areas, and 6.8 billion riyals on municipal services.
The value of spending on education amounted to 44.9 billion riyals, health and social development 34 billion riyals, economic resources 11.4 billion riyals, basic equipment and transportation 10.2 billion riyals, and general items 31.2 billion riyals.
For his part, the CEO of Mikyal Financial Technologies, Hisham Abu Jameh, said that the Saudi budget figures in the first quarter of this year exceed all expectations.
Abu Jameh added, in an interview with “Al Arabiya”, that the huge revenues from oil, which exceed 188 billion riyals, but they constitute only 67% of the total revenues.
Abu Jameh continued: “This percentage in itself is a great achievement for the state due to the improvement in non-oil revenues, which grew by 7% to 100 billion riyals in the first quarter.”
He revealed that the budget figures for the first quarter give the impression that the current year’s budget will end with revenues exceeding 1.1 trillion riyals, and a surplus of more than 250 billion riyals.
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