Saudi budget posts SAR 84.3 billion deficit in Q3

Saudi Arabia recorded a budget deficit of 84.3 billion riyals (SAR) in the third quarter of this year.

This compares to a deficit of 34.3 billion riyals in the second quarter and 88.5 billion riyals in the same period last year, according to Asharq Bloomberg.

The Ministry of Finance also reported that non-oil revenues rose 20% year-on-year in the third quarter to 142.6 billion riyals.

Capital expenditure in the Kingdom’s budget increased 4% quarter-on-quarter to 48 billion riyals in the third quarter, up from 46.2 billion riyals in the second quarter.

Capital expenditure also rose 17% during the first nine months of the year to 137.6 billion riyals.