Saudi Arabia's state budget deficit hits 1.41 billion USD in Q2

The Saudi Finance Ministry said in a report on Thursday that the kingdom's state budget registered a deficit of 5.27 billion Saudi riyals (1.41 billion U.S. dollars) in the second quarter of 2023.

According to the ministry's quarterly budget performance report, the kingdom's revenues in the second quarter reached 314.82 billion riyals while its expenditures hit 320.09 billion riyals.

The country's oil revenues reached 179.74 billion riyals in the second quarter, down from 250.36 billion riyals for the same period last year.

Meanwhile, the non-oil revenues increased by 13 percent year-on-year to reach 135.08 billion riyals in the second quarter.