Saudi Arabia estimates 2022 budget revenue at SAR 1.045 trln, expenditure at SAR 955 bln with SAR 90 bln surplus

12/12/2021 Argaam Special

Logo of "Saudi budget 2022"


Saudi Arabia estimated public revenue in 2022 budget at SAR 1.045 trillion, and expenditures at SAR 955 billion, with an expected surplus of SAR 90 billion, the Ministry of Finance said in its 2022 pre-budget statement today, Dec. 12. 

    

Total expenditure was projected at SAR 1.015 trillion in 2021, while revenue was budgeted at SAR 930 billion, with an expected deficit of SAR 85 billion. 

 

Actual Revenues & Expenditures of Saudi Budget (2000 to 2022)

Year

Revenue (SAR bln)

Expenditure (SAR bln)

Surplus/deficit (SAR bln)

2022 (Estimates)

1045

955

90

2021

930

1015

(85)

2020

782

1076

(294)

2019

927

1059

(133)

2018

906

1079

(174)

2017

692

930

(238)

2016

519

831

(311)

2015

613

1001

(389)

2014

1040

1141

(100)

2013

1153

995

158

2012

1247

917

329

2011

1118

827

291

2010

741

654

87

2009

510

596

(87)

2008

1101

520

581

2007

643

466

177

2006

674

393

280

2005

564

346

218

2004

392

285

107

2003

293

257

36

2002

213

234

(21)

2001

228

255

(27)

2000

258

235

23

 

Expenditure was expected to reach SAR 1.015 trillion this year, an increase of SAR 25 billion compared to estimates. 

 

Actual & Estimated Expenditure (2004-2022)

 Year

Est. (SAR bln)

Actual (SAR bln)

Variation (bln)

2022

955

--

--

2021

990

 1015

+25

2020 

1020

1076

+ 56

2019 

1106

1059

(47)

2018

978

1079

+ 101

2017

890

930

+ 40

2016

840

831

(9)

2015

860

1001

+ 141

2014

855

1141

+ 286

2013 

820

995

+ 175

2012 

690

917

+ 227

2011 

580

827

+ 247

2010

540

654

+ 114

2009

475

596

+ 121

2008

410

520

+ 110

2007

380

466

+ 86

2006

335

393

+ 58

2005

280

346

+ 66

2004

230

285

+ 55

 

Oil revenue was projected at SAR 588 billion, while non-oil revenue was seen reaching SAR 372 billion in 2021. 

 

Oil and Non-Oil Revenue (2010-2021)

Year 

Non-Oil Revenue (SAR bln)

Oil Revenue (SAR bln)

Total Revenue

2021

372

558

930

2020 

369

413

782

2019 

332

594

927

2018 

294

611

906

2017 

256

436

692

2016 

186

334

519

2015 

166

446

613

2014 

127

913

1040

2013 

118

1035

1153

2012 

102

1145

1247

2011 

83

1034

1118

2010 

71

670

741

 

Gross domestic product (GDP) grew by 2.9% to SAR 3.207 trillion in 2021. The Kingdom’s inflation declined to 3.3%, compared to 3.4% in 2020. 

 

Key Economic Data

Year

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

Public Debt (SAR bln)

135.5

83.8

60.1

44.3

142.3

316.6

443.3

560

678

854

938

% of GDP

5.4%

3.0 %

2.1%

1.6 %

5.8 %

13.1 %

17.3%

19.0%

24 %

32.5%

29.2%

 

The Kingdom’s public debt rose to SAR 938 billion by the end of 2021, representing 29.2% of total GDP, compared to SAR 854 billion a year earlier.  

 

The Saudi government allocated SAR 185 billion for the education sector in 2022, and SAR 138 billion for the healthcare and social development sector. 

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