Saudi Arabia said on Monday it posted a deficit of 4.6 billion riyals ($1.23 billion) in the second quarter, a huge drop from 109.2 billion riyals reported in the same quarter a year ago amidst a crash in oil prices.
The kingdom realized revenues of 248 billion riyals, with oil income rising 38% year-on-year to 132.15 billion in the second quarter.
Non-oil revenues climbed to 115.96 billion riyals from 38.23 billion riyals a year earlier.
Saudi Arabia's economy grew in the second quarter for the first time since the coronavirus pandemic began 18 months ago, fueled by a 10.1% growth in the non-oil sector, according to government data.
A Finance Ministry report said public expenditure in the second quarter amounted to 252.7 billion riyals, up 4% from the same quarter last year.
