Saudi Arabia posts SAR 452.9 bln revenue, SAR 464.9 bln expenditure in H1 2021

09/08/2021 Argaam Special

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Saudi Arabia’s Ministry of Finance announced the Q2 2021 budget. Total revenue stood at SAR 248.1 billion, while total expenditure reached SAR 252.7 billion in the second quarter of 2021. Budget deficit stood at SAR 4.6 billion in Q2 2021.

 

Meanwhile, H1 2021 revenue amounted to SAR 452.87 billion, while total expenditure reached SAR 464.92 billion. Budget deficit stood at SAR 12.06 billion during the first half of 2021.

 

Actual Revenue & Expenditure for 2021 (SAR bln)

Period

Revenue

Expenditure

Surplus/deficit (SAR bln)

Q1

204.8

212.2

(7.4)

Q2

248.1

252.7

(4.6)

Q3

--

--

--

Q4

--

--

--

2021 (Estimates)

849.1

990.0

(140.9)

 

Actual Revenue in H1 2021:

 

Total actual revenue hit SAR 452.87 billion in the first half of the year, a rise of 39% year-on-year (YoY).

 

Oil and non-oil revenue stood at SAR 248.73 billion and SAR 204.41 billion in the same period, respectively.

 

Actual Revenue (SAR bln)

Revenue

H1 2020

H1 2021

Variation

Oil revenue

224.49

248.73

+11%

Non-oil revenue

101.53

204.14

+101%

Taxes on income, profit, and capital gain (including foreign corporate income taxes)

5.21

10.40

+100%

Taxes on goods and services (including Excise tax and VAT)

41.16

121.66

+196%

Taxes on international trade and transactions (custom duties)

7.81

8.34

+7%

Other taxes (including Zakat)

5.42

22.60

+317%

Other revenues

41.91

41.14

(2%)

Total

326.01

452.87

+39%

 

 

Actual Expenditure in H1 2021:

 

Total actual expenditure edged down 1% YoY to SAR 465 billion in the first half of the year.

 

The Kingdom’s public debt reached SAR 922 billion in Q2 2022.

 

Actual Expenditure H1 2021 (SAR bln)

Expenditures

H1 2020

H1 2021

Variation

Compensation of employees

249.27

245.72

(1%)

Use of goods and services

61.94

73.14

+18%

Financing expenses

11.42

13.19

+15%

Subsidies

13.34

9.65

(28%)

Grants

2.37

3.22

+36%

Social benefits

27.64

41.77

+51%

Other expenses

45.98

41.38

(10%)

Non-financial assets (CAPEX)

57.40

36.84

(36%)

Total

469.36

464.92

(1%)

 

 

Public Debt (SAR bln)

Period

Public Debt (SAR bln)

End of 2020

853.5

H1 2021

922.8


 

Public Debt in H1 2021 (SAR bln)

Item

Domestic Debt

 

External Debt

Beginning of period balance

853.51

502.66

 

350.86

Issuances or borrowing

37.30

 

36.77

Principal repayment

4.68

 

50

Amortization of government bonds

0

 

0

End of period balance

535.27

 

387.57

922.85

 

Deficit financing until H1 2021 (SAR bln)

 Period

Q1 2021

Q2 2021

Total

Deficit/Surplus

(7.44)

(4.61)

(12.06)

Financing

Current account

0

0

0

Government reserves

0

0

0

Financing from domestic borrowing

6.13

17.67

23.80

Financing from external borrowing

23.42

3.88

27.30

Total financing

29.55

21.54

51.09*

*An amount from total financing not used in plugging H1 2021 deficit and will be used to finance the budget deficit throughout the year

 

 

For more data, visit Argaam Tools

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