Saudi Arabia projects 2024 budget deficit at 1.9pc of GDP
Monday, 2 October 2023
RIYADH, Oct 01 (Xinhua): Saudi Arabia announced Saturday its preliminary budget statement for 2024 with an expected 1.9 per cent deficit of the GDP.
The Saudi finance ministry projected total expenditures for fiscal 2024, which is identical to a calendar year in the kingdom, at 1,251 billion Saudi Riyals (about 333.5 billion US dollars), and 1,172 billion riyals in revenues.
The projection is based on the government's fiscal objectives to expand strategic spending at the sectoral and regional levels, broaden and diversify the economic base.