RIYADH, Dec 8 (NNN-SPA) – The Saudi cabinet approved yesterday, the state budget, with a surplus of 16 billion Saudi riyals (4.26 billion U.S. dollars).
The budget was approved during a cabinet session, led by Saudi Arabian King, Salman bin Abdulaziz Al Saud.
The budget includes revenues of 1.13 trillion riyals and spending of 1.114 trillion riyals.
Saudi Arabian Crown Prince, Mohammed bin Salman Al Saud said, the 2023 state budget aims to prioritise spending on capital projects, according to regional and sectoral strategies, expecting the surplus to be about 2.6 percent of the GDP.
He said, the surplus achieved in the budget would be directed to strengthening government reserves, supporting national funds, and strengthening the financial position of the kingdom.
