In the third quarter of 2022, Saudi Arabia reports a budget surplus of nearly SR14 billion.

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The third quarter of 2022 saw an SR14.14 billion surplus in Saudi Arabia’s general budget, the Ministry of Finance reported on Monday.

The budgetary receipts were around SR301.86 billion, and the expenditures were approximately SR287.72 billion, according to the ministry report.

The ministry released the second quarter report on the state’s general budget’s real performance for the year 2022 on Monday. According to the report, the Kingdom’s income from the beginning of 2022 through the third quarter was over SR950.19 billion, its expenses were around SR800.67 billion, and its surplus was around SR149.54 billion.

The third quarter’s oil revenue exceeded SR229 billion, increasing the year’s total oil revenue to SR663 billion, a rise of 67 percent over SR396.7 billion in the same period previous year.

Non-oil revenue for the third quarter of this year exceeded SR72.84 billion, bringing the year’s total to SR287 billion, a decline of 4% from SR299.54 during the same period previous year.

The two industries with the biggest spending were health and social development and the military. The military sector reported SR159 billion out of the overall allocations of SR170.9 billion for the fiscal year, while the health and social development sector reported SR153 billion, or 111 percent of the allocations totaling SR138 billion.

According to the ministry statement, the education sector received SR 146 billion, or 79 percent of the SR 185 billion in budgeted allocations for the current fiscal year. According to the statement, out of the overall allocations of SR49.58 billion, SR44.48 billion was spent on municipal services, accounting for 90% of the total allocations.

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