Saudi Arabia posts $20.8bn budget surplus in Q2, the highest at least since 2019 

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Updated 04 August 2022
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Saudi Arabia posts $20.8bn budget surplus in Q2, the highest at least since 2019 

  • Kingdom’s total revenues amounted to over SR370.4 billion

RIYADH: Saudi Arabia has posted a SR77.9 billion ($20.8 billion) budget surplus during the second quarter of 2022, the Ministry of Finance reported. 

During that period, the state’s total revenues amounted to over SR370.4 billion, up 49 percent year-on-year, while expenditures reached SR292.5 billion.

This represents a 16 percent increase over the same period. 

Oil revenues were up by 89 percent year-on-year, reaching SR250.4 billion, while non-oil revenues slightly rose by 3 percent year-on-year, amounting to SR120 billion.

Saudi Arabia's public debt on June 30 2022 stood at SR966.5 billion, up from SR958.6 billion as of the end of March. 

The SR7.9 billion increase in public debt during the second quarter is due to the SR25.4 billion rise in domestic debt, which was partly offset by a SR17.5 billion principal repayment in the Kingdom's external debt over the same period, data compiled by Arab News showed.


DP World announces new leadership appointments

Updated 13 February 2026
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DP World announces new leadership appointments

DUBAI: DP World announced the appointment of Essa Kazim as Chairman of its Board of Directors and the appointment of Yuvraj Narayan as Group Chief Executive Officer.

Essa Kazim currently serves as Governor of the Dubai International Financial Centre and Chairman of Borse Dubai. He brings extensive experience in financial and economic affairs, having previously held senior leadership positions in several national institutions.

Yuvraj Narayan has extensive professional experience in financial management, corporate finance, supply chains, and global trade. Since joining DP World in 2004, he has led a number of strategic and transformational initiatives that supported the company’s expansion across international markets and strengthened its role as an integrated global provider of end-to-end supply chain solutions.

Narayan has served as Group Chief Financial Officer since 2005, contributing to the company’s financial resilience and operational efficiency.

DP World affirmed that the new appointments support its strategy for sustainable growth and reinforce its role in strengthening global supply chains and supporting Dubai’s position as a leading hub for trade and logistics.