Saudi Arabia Macroeconomic Developments
- Saudi Arabia witnessed an 11 percent boost in non-oil revenues, reaching SAR457.73 billion ($122.06 billion) in 2023 compared to 2022, primarily driven by increased taxes on income, profits, and capital gains.
- Minister of Finance Mohammed Al-Jadaan stated Saudi Arabia’s non-oil gross domestic product (GDP) is recording a growth of over four percent and is expected to exceed five percent in the medium term.
