Saudi Arabia this year achieved its first fiscal surplus since 2013, Trend reports citing Al Arabiya.
The Kingdom forecasts an economic growth by 3.1 percent in 2023, Al Arabiya added.
It also said that total spending will reach SAR 1.114 ($300 billion) trillion in 2023, down from SAR 1.132 trillion ($301 billion) in 2022, adding that public debt will decline by 3.5 percent in 2023 to SAR 951 billion ($253 billion).
Saudi Arabia said on Thursday it expects debt issuance in the fourth quarter of this year at about 22 billion riyals ($5.85 billion), out of an expected roughly 115 billion riyals debt issuance for the full year.
Non-oil GDP growth is expected at 5.9 percent this year, the world’s top oil exporter said in a budget statement.
Saudi government reserves at the Saudi Central Bank are expected at about 399 billion riyals at the end of next year, the statement said.