Saudi Arabia’s budget review: deficit forecast for 2023
Saudi Arabia revises its budget forecasts downwards due to falling oil revenues. Find out more about this announcement and its impact on the Saudi economy.
| Sector | Pétrole |
|---|---|
| Theme | Marchés & Finance, Résultat |
A Saudi Arabian budget review was recently announced for the current year. It is now forecasting a deficit due to increased spending and falling oil revenues. This follows the initial announcement of a surplus of 16 billion Saudi riyals ($4.27 billion) in 2023, which has been replaced by a forecast deficit of 82 billion Saudi riyals ($21.86 billion), equivalent to 2% of GDP.
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