Saturday, August 6, 2022
A Journal of Analysis and News
Riyadh, Saudi Arabia. Photo by Muhaidib, Wikimedia Commons.
Saudi Arabia Posts $20.8bn Budget Surplus In Second Quarter. Fred says: OPEC+1 if only they would increase supply and not repeat what the did in the 1970’s that caused massive inflation ie restrict supply to boost their profits/incomes
By Arab News
Saudi Arabia has posted a SR77.9 billion ($20.8 billion) budget surplus during the second quarter of 2022, the Ministry of Finance reported.
During that period, the state’s total revenues amounted to over SR370.4 billion, up 49 percent year-on-year, while expenditures reached SR292.5 billion.
This represents a 16 percent increase over the same period.
Oil revenues were up by 89 percent year-on-year, reaching SR250.4 billion, while non-oil revenues slightly rose by 3 percent year-on-year, amounting to SR120 billion.
Saudi Arabia’s public debt on June 30 2022 stood at SR966.5 billion, up from SR958.6 billion as of the end of March.
The SR7.9 billion increase in public debt during the second quarter is due to the SR25.4 billion rise in domestic debt, which was partly offset by a SR17.5 billion principal repayment in the Kingdom’s external debt over the same period, data compiled by Arab News showed.
Arab News is Saudi Arabia’s first English-language newspaper. It was founded in 1975 by Hisham and Mohammed Ali Hafiz. Today, it is one of 29 publications produced by Saudi Research & Publishing Company (SRPC), a subsidiary of Saudi Research & Marketing Group (SRMG).