Saudi Arabia estimates 2022 budget revenues at SAR 903 bln, expenditure at SAR 955 bln

Pre-budget statement for 2022

Saudi Arabia's revenues for the 2022 state budget are estimated at SAR 903 billion, with a forecast expenditure of SAR 955 billion and a deficit of SAR 52 billion, the Ministry of Finance said in its pre-budget statement today, Sept. 30.  

Total revenues are projected at SAR 930 billion this year, while expenditure is expected to stand at SAR 1.015 trillion, with an estimated deficit of SAR 85 billion.

According to the pre-budget statement, the noticeable and anticipated uptick in the Kingdom’s economy is expected to positively impact the medium-term budget revenue. Moreover, the government’s continued efforts are likely to contribute to economic diversification through the implementation of the programs and initiatives directly linked to the Vision 2030 objectives. This in turn will maintain revenue growth, driven by local and global economic recovery forecasts in the medium term after the COVID-19 pandemic.