Saudi Arabia posts SAR 950.2 bln revenue, SAR 149.5 bln budget surplus in 9M 2022

31/10/2022 Argaam Special


Saudi Arabia posted revenue of over SAR 950.2 billion and expenditure of SAR 800.7 billion in the first nine months of 2022, with a surplus of almost SAR 149.5 billion, the Ministry of Finance announced today, Oct. 31.

 

In the third quarter, revenue stood at SAR 301.87 billion, while expenditure reached SAR 287.73 billion. The actual budget surplus reached SAR 14.14 billion.  

 

Saudi Budget Actual Revenue & Expenditure for 2022 (SAR bln)

Period

Revenue

Expenditure

Surplus/Deficit

Q1

278.0

220.5

+57.5

Q2

370.4

292.5

+77.09

Q3

301.9

287.7

+14.1

Q4

--

--

--

2022 (Estimates)

1045

955

+90

 

Actual Revenue in 9M 2022:

 

Actual revenue hit SAR 950.2 billion in the first nine months of 2022, a rise of 36% year-on-year (YoY).

 

Oil revenue came in at SAR 663.09 billion in the nine-month period, while non-oil revenue stood at SAR 287.11 billion.

 

Actual Revenue for 9M 2022 (SAR bln)

Revenue

9M 2021

9M 2022

Change

Oil revenue

396.7

663.1

+67%

Non-oil revenue

299.5

287.1

(4%)

Taxes on income, profit & capital gains (including corporate income tax and tax on foreign companies)

13.9

17.7

+27%

Tax on goods & services (including value-added VAT and excise tax)

187.8

169.5

(10%)

Tax on trade international & transactions (customs fees)

13.1

14.4

+10%

Other taxes

25.4

25.2

(1%)

Other revenues

59.5

60.4

+2%

Total

696.2

950.2

+36%

 

 

Actual Expenditure in 9M 2022:

 

Actual expenditure jumped 14% YoY to SAR 800.65 billion in the first nine months of the year.

 

Actual Expenditure 9M 2022 (SAR bln)

Expenditure

9M 2021

9M 2022

Change

Employee compensation 

369.2

377.9

+2%

Use of goods & services

114.3

150.6

+32%

Financing expenses

19.7

22.3

+13%

Subsidies

14.0

19.2

+37%

Grants

3.4

1.9

(44%)

Social benefits

54.2

59.8

+10%

Other expenses

62.9

77.7

+24%

Non-financial assets (CAPEX)

64.0

91.3

+43%

Total

701.6

800.65

+14%

 

 

Public Debt:

 

The Kingdom’s public debt increased 4% to SAR 971.8 billion in 9M 2022, from SAR 938 billion by the end of 2021.

 

Public Debt 

Period

Public Debt

(SAR bln)

2021

938.0

9M 2022

971.8

 

Public debt breakdown by end of 9M 2022:

 

Public Debt until 9M 2022 (SAR bln)

Item

Domestic

Debt

External

Debt

Beginning of period balance

938.01

558.75

379.26

Issuances or borrowing

93.23

--

Principal repayment

41.92

17.50

Amortization of government bonds

0

--

End of period balance

610.05

361.76

971.81

 

 

Details and Historical Data of State Budget

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