Saudi Arabia posts third quarter budget surplus, first in over two years | Reuters
Saudi Arabia recorded a budget surplus of 6.7 billion riyals ($1.79 billion) in the third quarter this year, as higher oil prices fuelled its first quarterly surplus in over two years.
The world's largest oil exporter saw revenues of 243.4 billion riyals in the quarter, with income from oil sales increased 60% to 147.9 billion riyals.
But non-oil revenue contracted 22% to 95.4 billion riyals, according to a finance ministry report that said quarterly public expenditure was down 8% year-on-year to 236.7 billion riyals.
It was the kingdom's first quarterly surplus since the first quarter in 2019, according to ministry data.
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