Saudi Arabias economy has grew 1.66 percent in the first quarter of this year, in an expected improvement. This rate approaches the rate reached during the same period in 2018, according to figures released by the General Authority for Statistics (GaStat) on Sunday. Non-oil sector growth in the first quarter was 2.13 percent, largely in line with the same period last year, but up from a 1.8 percent growth in last year’s fourth quarter. Non-oil activity picked up particularly in the private sector, which saw a growth of 2.3 percent. The International Monetary Fund (IMF) said in May real non-oil growth is expected to strengthen to 2.9 percent in 2019, boosting overall economic growth to 1.9 percent, higher than its earlier projection of 1.8 percent. The Kingdom announced in April having a budget surplus of SR27.8 billion ($7.4 billion) in the first quarter of this year. It also achieved growth in foreign investments by five percent in 2018 while the financial market grew by 15 percent. Saudi Finance Minister Mohammed al-Jadaan said back then that growth in the activities of the financial, insurance, real estate and business services sectors, which account for about 10 percent of the country’s GDP, has averaged over 3.3 percent annually over the past five years. Jadaan pointed to the improvement in the indicators of financial discipline and sustainability. The quarterly report on Saudi Arabias public budget performance reflected an improvement in fiscal performance as a result of the governments continued efforts to implement reforms aimed at achieving economic diversification and financial sustainability. The report included many indicators that reflect the government’s commitment to transparency and financial disclosure, strengthening fiscal governance and control and moving towards implementing the objectives of the fiscal balance program. Total revenues for Q1-19 stood at SR245 billion ($65 billion dollars), compared with SR166 billion ($44 billion) in the same period last year, an increase of 48 percent. Oil revenue grew by 48 percent Y-o-Y to SR169.09 billion in Q1-19 while non-oil revenue rose 46 percent Y-o-Y to SR76.32 billion. Total expenditure stood at SR217 billion ($57 billion), an increase of eight percent compared to the same period last year. While the public debt reached SR610 billion ($162 billion) at the end of Q1-19.