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Saudi Arabia expects 1.6 pct GDP deficit in 2022 budget
(MENAFN) On Thursday, Sep. 30 Saudi Arabia revealed its pre-budget statement of 2022 with a projected 1.6 percent deficit of the GDP.
The deficit is expected to hit 52 billion Saudi Riyals (USD13.8 billion), noted the Ministry of Finance in a report.
It is also predicted that the deficit decline steadily amidst the projections of accomplishing surpluses in the budget as of the year 2023.
The country projects the next year proceeds to hit about 903 billion Saudi Riyals (USD240 billion) and the spending at about 955 billion Saudi Riyals (USD254.6 billion).
The deficit is expected to hit 52 billion Saudi Riyals (USD13.8 billion), noted the Ministry of Finance in a report.
It is also predicted that the deficit decline steadily amidst the projections of accomplishing surpluses in the budget as of the year 2023.
The country projects the next year proceeds to hit about 903 billion Saudi Riyals (USD240 billion) and the spending at about 955 billion Saudi Riyals (USD254.6 billion).
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