Saudi finance ministry completes SAR 1 trln payment orders in 2020

31/01/2021 Argaam

Logo of Ministry of Finance

The Ministry of Finance (MoF) finalized the disbursement procedures for all payment orders received from the public and private sector with a total value of SAR 1.02 trillion in 2020, according to a ministerial statement.

 

Expenditure for the public sector amounted to SAR 764.6 billion, while the same for the private sector reached SAR 251.8 billion.

 

MoF clarified that 73% (or SAR 183.8 billion) of the private sector’s total expenditures was disbursed within 15 days of receiving payment orders; 19% (or SAR 49.2 billion) was disbursed within 30 days; and 7% (or SAR 16 billion) was disbursed within 45 days.

 

The remaining 1% (or SAR 2.8 billion) of payment orders was disbursed after 45 days due to their suspension according to judicial rulings or seized by statutory decisions.

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