Minister of Finance, Mohammed Al-Jadaan
Saudi non-oil revenue covered 40% of expenditure in 2021, compared to previous 10%, Minister of Finance, Mohammed Al-Jadaan, said during the first day of the Budget Forum 2023.
The last five years witnessed major structural reforms through which Saudi Arabia turned to surplus from a budget deficit.
Al-Jadaan added that dependence on oil revenue led the Kingdom previously to a deficit. Today, Saudi Arabia shifted from the Fiscal Balance Program to Fiscal Sustainability Program, which has plans for more than five years.
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