The Saudi Council of Ministers, headed by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, approved the Kingdom’s budget for the next year, with spending in this budget amounting to 955 billion riyals, while revenues are estimated at 1045 billion riyals, with a surplus of 90 billion riyals.
King Salman called for paying attention to the security and health of citizens and residents and human development, stressing the Kingdom's goal of continued growth, economic diversification and financial sustainability.
In parallel, Saudi budget figures showed achieving total revenues of 849 billion riyals for the year 2021, compared to 782 billion riyals last year, while targeting revenues of 1045 billion riyals for the next year.
On the expenditure side, it is expected to amount to about 1.015 billion riyals for the year 2021 it will, i.e. a decrease of 5.6 percent from the actual expenses for the year 2020, and an increase of about 2.6 percent over the approved budget. Noting that Saudi Arabia's budget for the current year 2021 recorded the highest percentage of non-oil revenues ever.
Revenues in 2021 are expected to reach 930 billion riyals, an increase of 19 percent, compared to 2020; This is due to the expected rise in oil revenues, and an increase in non-oil revenues by 18.2 percent.
Source (Al-Arabiya.net website, Edited)
