Saudi Arabia unveiled its general budget for the fiscal year 2023 on Wednesday, with total revenues estimated at SR1130 billion and expenditures amounted to SR1114 billion, posting a surplus of SR16 billion. Custodian of the Two Holy Mosques King Salman announced the annual budget at the session of the Council of Ministers at Al-Yamamah Palace in Riyadh. “With God’s blessing, we announce the state’s general budget for the next year, asking God Almighty to perpetuate the blessings of security and prosperity on our homeland,” the King said in a brief address.
The Cabinet completed the session under the chairmanship of Crown Prince and Prime Minister Mohammad bin Salman, following the Monarch’s address. He offered the Cabinet’s thanks and appreciation to the King for announcing the state’s general budget for the fiscal year 2023. The Cabinet then reviewed the items of the budget and approved it. The Crown Prince directed the ministers and officials to actively commit to implementing the budgetary development and social programs and projects in their jurisdiction.
