Budget deficit ‘intended’; management is govt priority: Al-Jadaan

Saudi Arabia’s budget deficit was “intended”, and the government understands the concerns about its potential impact on the economy, Mohammed Al-Jadaan, Minister of Finance, told Al-Eqtisadiah newspaper.

Managing the budget deficit is one of the government's priorities, Al-Jadaan said, adding that the government is implementing strategies aimed at managing sustainable debt.

According to Argaam’s data, the Ministry of Finance announced the actual general budget for the first quarter of 2024, with revenues reaching SAR 293.4 billion and expenditure of SAR 305.8 billion. The Kingdom recorded a budget deficit of SAR 12.4 billion.