Riyadh – Mubasher: The total public revenues of Saudi Arabia amounted to SAR 192 billion during the first quarter (Q1) of 2020, whilst expenditure reached SAR 226.1 billion.
The kingdom saw a budget deficit of SAR 34.1 billion over Q1-20, according to a report released by the Saudi Ministry of Finance on Wednesday.
Total revenues for the first quarter slid by 22% annually after recording SAR 245.4 billion in Q1-19. This is attributed to lower oil revenues by 24% in Q1-20 at SAR 128.77 billion from SAR 169 billion.
In contrast, expenditures increased by 4% on an annual basis during Q1-20 when compared to Q1-19 when it registered SAR 217.57 billion.
