Saudi Arabia’s Budget Achieves the Highest Surplus since 2016

  • Riyadh, KSA
  • 16 May 2022

The Saudi Ministry of Finance revealed that the budget in the first quarter of 2022 achieved revenues of 278 billion riyals, which is the highest surplus since 2016, while general expenses amounted to 220.5 billion riyals. The value of oil revenues amounted to 183.7 billion riyals, taxes on income, profits and capital gains 4.1 billion riyals, taxes on goods and services 60 billion riyals, and other revenues 21.4 billion riyals. According to the Saudi "Finance", the expenses included compensation for workers of about 125.7 billion riyals. The Saudi budget figures included a surplus of 57.49 billion riyals.

The budget figures showed that the internal debt reached 579.4 billion riyals, while the external debt amounted to 379.2 billion riyals, bringing the total debt to 958 billion riyals.

With regard to sectoral spending, the Saudi budget revealed spending 7 billion riyals on public administration, 43.5 billion riyals on the military sector, 22.3 billion riyals on security and administrative areas, and 6.8 billion riyals on municipal services.

The budget figures for the first quarter give the impression that the current year's budget will end with revenues exceeding 1.1 trillion riyals, and a surplus of more than 250 billion riyals.

Source ( Website, Edited)

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