Saudi non-oil revenue covered 40% of spending in 2021: Al-Jadaan

11/12/2022 Argaam

Saudi non-oil revenue covered 40% of spending in 2021: Al-Jadaan

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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