Saudi Total Government Revenues Rose to SAR 245 Billion

  • Riyadh, Kingdom of Saudi Arabia
  • 8 May 2019

The Saudi total government revenues rose in the first quarter of 2019 to SAR 245 billion, up 48 percent to 79 billion pounds on a year-on-year basis.

According to a report issued by “Jadwa Investment”, the government's oil revenues rose 48 percent to 169 billion riyals, boosted by the government receiving a 124-billion-pound from the Saudi Aramco in last March.

The quarterly report showed that the non-oil revenues continued to rise, with the first quarter of 2019 showing a 46 percent increase in non-oil revenues on an annualized basis. Most of these gains came from the category of "taxes on goods and services", which almost doubled on a year-on-year basis, to reach 41 billion, and accounted for 77 percent of the annual change in all non-oil revenues during the quarter.

The majority of revenue came from the increase in foreign labor fees, which is expected to double in 2019 as a whole, to reach 56 billion.

Source (Al-Hayat newspaper, Edited)


Get an annual subscription in the quarterly Arab Economic bulletin