Saudi Press

Saudi Arabia and the world
Saturday, Jul 12, 2025

Saudi Arabia posts SR104 billion budget surplus in 2022

Saudi Arabia posts SR104 billion budget surplus in 2022

Saudi Arabia recorded a budget surplus of SR103.85 billion ($27.7 billion) in 2022, up from previous estimates amounting to SR102 billion, the Ministry of Finance announced on Thursday.
The Kingdom’s total revenues in 2022 reached SR1.268 trillion, up 31 percent over 2021 when it stood at SR965.5 billion, and slightly higher than estimated while total spending in 2022 rose 12 percent from the previous year to SR1.164 trillion. Oil revenues in 2022 totaled about SR857.3 billion, up 52 percent from the previous year.

The higher oil prices boosted government revenues by 31 percent, according to the data released by the ministry. The Kingdom posted real GDP growth of 8.7 percent in 2022 leading to its first budget surplus in almost a decade. Saudi Arabia has had previously estimated a budget surplus of SR102 billion, or about 2.6 percent of the gross domestic product (GDP), for 2022, but is projecting a narrower surplus for 2023.

However, non-oil revenues picked up in the fourth quarter, rising 19 percent from the prior-year period, outperforming oil revenue which increased 17 percent in the fourth quarter.

The ministry’s fourth quarter of the year 2022 report on the performance of the state’s general budget revealed that the revenues of the fourth quarter of 2022 amounted to SR317.97 billion, the expenditures amounted to SR363.65 billion while the deficit accounted for SR45.68 billion.

Revenues increased by 31 percent during 2022 from SR965.5 billion in 2021, and oil revenues increased by 52 percent, reaching SR 857.3 billion, compared to SR562.2 billion in 2021, while non-oil revenues increased by two percent, reaching SR410.9 billion, compared to SR403.3 billion in 2021. The Kingdom recorded a fiscal surplus in the first three quarters of 2022, but reported a deficit of SR45.7 billion in the fourth quarter when OPEC+ oil production cuts kicked in, it was pointed out.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Emirates Airline Expands Market Share with New $20 Million Campaign
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
×