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Saudi records budget deficit in 2Q 2024
Total expenditures for 2Q 2024 rose 15% y-o-y to reach SAR 368.9 bn
FinMin completes SAR 3.2 bn July sukuk issuance
The multi-tenor issuance was structured into five tranches.
GDP shrinks 1.7% y-o-y in 1Q 2024
Non-oil activity grew 3.4% y-o-y in 1Q 2024
State budget closes FY 2023 in deficit
The Kingdom saw its total revenues rise 7.3% to reach SAR 1.2 trn
Gov’t budget closes 1Q 2024 in deficit
This marks the sixth quarter in a row in which the Kingdom has posted a budget deficit
New rules aim to make it easier for gov’t officials to put overseas contracts to tender
Arbitration for overseas contracts are exempt from a rule limiting arbitration only to contracts estimated at SAR 100 mn
Fahad Al-Obailan is the new CEO of Alhokair Tourism
Plus: FinMin names deputy representative to key IMF committee
Budget deficit for FY 2023 is better than FinMin had forecast
This is slightly narrower than government projections of SAR 82 bn
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