(MENAFN- Trend News Agency) Saudi Arabia this year achieved its first fiscal surplus since
2013, trend reports
citing al
arabiya .
The Kingdom forecasts an economic growth by 3.1 percent in 2023,
Al Arabiya added.
It also said that total spending will reach SAR 1.114 ($300
billion) trillion in 2023, down from SAR 1.132 trillion ($301
billion) in 2022, adding that public debt will decline by 3.5
percent in 2023 to SAR 951 billion ($253 billion).
Saudi Arabia said on Thursday it expects debt issuance in the
fourth quarter of this year at about 22 billion riyals ($5.85
billion), out of an expected roughly 115 billion riyals debt
issuance for the full year.
Non-oil GDP growth is expected at 5.9 percent this year, the
world's top oil exporter said in a budget statement.
Saudi government reserves at the Saudi Central Bank are expected
at about 399 billion riyals at the end of next year, the statement
said.
MENAFN07122022000187011040ID1105281821
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.