Minister of Finance: First Quarter Total Revenues Amount to SR 144,076 Billion, Up 72% Riyadh 2

Minister Al-Jadaan pointed out that the quarterly report highlighted the most prominent financial indicators for the performance of the general budget of the State for the first quarter of the fiscal year 1438 / 1439H (2017G), indicating that total revenues for the first quarter amounted to SR 144,076 billion, an increase by (72%) compared to the same period of last year, as non-oil revenues for the first quarter amounted to SR 32 billion, an increase of 1% compared to the same quarter of last year.
He noted that oil revenues increased during the first quarter to reach SR 112 billion with a growth rate of 115% compared to the same quarter of the previous year, driven by improved oil prices in international markets, adding that that total expenditures for the first quarter amounted to SR 170,287 billion, down (3%) compared to the same quarter of last year and the education sector has the largest percentage of the approved budget compared to other sectors by (23%) of the total estimated budget.
The Minister of Finance pointed out that 46% of the expenditures were allocated during the first quarter to basic sectors such as education, health, social development and municipal services; noting that the actual expenditures during the first quarter were 19% of the total estimated budget during the year.
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16:23 LOCAL TIME 13:23 GMT