Saudi Arabia records exceed of USD3.2B than previous estimates

(MENAFN) Saudi Arabia has posted a higher than estimated budget exceed for this year of SR102 billion (USD27.13 billion) — SR12 billion (USD3.19 billion) more than earlier estimates.

The exceed comes as the nation’s gross domestic output is also getting ready to surplus forecasts— recording surges of 8.5 percent in comparison with the 7.5 percent forecasted in December last year as well as the 8 percent estimate in pre-Budget statement issued at the closing of September.

GDP expansion is estimated to decelerate to 3.1 percent next year.

The revelations came as the Saudi administration agreed on a SR1.114 trillion budget for next year, itself estimated to record an exceed of SR16 billion (USD4.2 billion), as reported by Saudi media outlets.

The Kingdom estimated incomes of SR1.13 trillion (USD300.5 billion) in 2023, Saudi-possessed Al Arabiya TV mentioned in a report. The exceed is in line with a 0.4 percent growth in gross domestic product — 0.2 percentage points more than estimate in September.


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