Saudi Arabia’s non-oil revenues rose by 9 percent to reach SR111.51 billion ($29.73 billion) in the first quarter of 2024 as compared to the same period in 2023, the Ministry of Finance said.
Oil revenues rose 1.9 percent as compared to the first quarter of 2023 © Mena Today
Saudi Arabia’s non-oil revenues rose by 9 percent to reach SR111.51 billion ($29.73 billion) in the first quarter of 2024 as compared to the same period in 2023, the Ministry of Finance said.
In its quarterly budget performance report, the ministry said the Kingdom posted total revenues of SR293.43 billion in the same quarter, while its public spending amounted to SR305.82 billion.
According to official data, total revenues increased 4 percent as compared to Q1 of 2023.
In the first quarter of the current year, the Kingdom posted a budget deficit of SR12.39 billion with oil revenues reaching SR181.92 billion.
The report added that oil revenues rose 1.9 percent as compared to the first quarter of 2023.
The Kingdom allocated SR26.79 billion for municipal services in the first quarter of 2024, up 157 percent as compared to the same period in 2023.
The United States agreed on Tuesday to resume military aid and intelligence sharing with Ukraine after talks where Kyiv said it would accept a U.S. proposal for a 30-day ceasefire in its conflict with Russia, the countries said in a joint statement.
From the Gaza conflict to potential diplomatic ties with Israel, and negotiations for a ceasefire in Ukraine, Saudi Arabia has placed itself at the center of major international issues.
Saudi Crown Prince Mohammed bin Salman and Ukrainian President Volodymyr Zelenskiy discussed efforts to achieve "sustainable fair, and comprehensive" peace in Ukraine, according to a joint statement published on Tuesday by the Saudi state news agency (SPA).
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