Finance Ministry says Saudi Arabia’s higher Q1 2022 non-oil revenue spurred by economic recovery

15/05/2022 Argaam
Logo ofMinistry of Finance

Logo of Ministry of Finance

The Ministry of Finance stated that the growth in the Kingdom’s Q1 2022 oil revenue was due to higher oil prices, Saudi Press Agency reported.
 

It added that higher Q1 2022 non-oil revenue was driven by economic recovery.
 

The ministry announced today, May 15 the Kingdom’s Q1 2022 budget, which reflected a revenue of SAR 278 billion and expenditure of SAR 220.5 billion, with a surplus of SAR 57.5 billion, according to data available with Argaam.
 

Oil and non-oil revenue stood at SAR 183.7 billion and SAR 94.26 billion in the same period, respectively.

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