Saudi Arabia posted revenue of SAR 1.26 trillion and expenditure of SAR 1.16 trillion in 2022, with a surplus of almost SAR 103.9 billion, the Ministry of Finance announced today, March 9.
In Q4 2022, actual revenue reached SAR 317.9 billion, while expenditure stood at SAR 363.7 billion. The Kingdom posted a deficit of SAR 45.7 billion in the three-month period.
|
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 |
+77.9 |
|
Q3 |
301.9 |
287.7 |
+14.1 |
|
Q4 |
317.97 |
363.66 |
(45.69) |
|
2022 (Actual) |
1268.2 |
1164.3 |
+103.9 |
|
2022 (Estimates) |
1045 |
955 |
+90 |
|
2022 (Forecasts) |
1222 |
1132 |
+90 |
|
Saudi Budget Actual Revenue & Expenditure (SAR bln) |
|||
|
Year |
Revenue |
Expenditure |
Surplus/Deficit |
|
2022 |
1268 |
1164 |
+104 |
|
2021 |
965 |
1039 |
(73) |
|
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 |
Actual Revenue in 2022:
Actual revenue rose 31% to nearly SAR 1.26 trillion last year.
Oil revenue reached approximately SAR 857.3 billion, while non-oil revenue came in at SAR 410.9 billion in 2022.
|
Actual Revenue (SAR bln) |
|||
|
Revenue |
2021 |
2022 |
Change |
|
Oil revenue |
562.2 |
857.3 |
+52% |
|
Non-oil revenue |
403.3 |
410.9 |
+2% |
|
Taxes on income, profit, and capital gain |
17.8 |
24.5 |
+37% |
|
Taxes on goods and services |
251.4 |
251.5 |
+0.04% |
|
Taxes on international trade and transactions |
18.7 |
18.7 |
+0.2% |
|
Other taxes |
29.2 |
28.4 |
(3%) |
|
Other revenue |
86.2 |
87.8 |
+2% |
|
Total |
965.5 |
1268.2 |
+31% |
Actual Expenditure in 2022:
Actual expenditure rose by 12% YoY to almost SAR 1.16 trillion last year, as shown in the following table:
|
Actual Expenditure 2022 (SAR bln) |
|||
|
Expenditure |
2021 |
2022 |
Change |
|
Employee compensation |
495.72 |
513.22 |
+4% |
|
Use of goods & services |
204.67 |
258.11 |
+26% |
|
Financing expenses |
27.38 |
30.31 |
+11% |
|
Subsidies |
29.86 |
29.65 |
(1%) |
|
Grants |
3.49 |
2.96 |
(15%) |
|
Social benefits |
69.91 |
79.42 |
+14% |
|
Other expenses |
90.69 |
107.17 |
+18% |
|
Non-financial assets (CAPEX) |
117.22 |
143.46 |
+22% |
|
Total |
1038.93 |
1164.31 |
+12% |
Public Debt:
The Kingdom’s public debt increased by 7% to nearly SAR 990.08 billion in 2022, from SAR 938 billion by the end of 2021.
|
Public Debt (SAR bln) |
|
|
Period |
Public Debt (SAR bln) |
|
End of 2021 |
938.0 |
|
End of 2022 |
990.08 |
|
Public Debt Until Q4 2022 (SAR bln) |
||
|
Item |
Domestic Debt |
External Debt |
|
Beginning of period balance |
938.01 |
|
|
558.75 |
379.26 |
|
|
Issuances or borrowing |
106.65 |
18.75 |
|
Principal repayment |
50.44 |
22.89 |
|
Amortization of government bonds |
0 |
0 |
|
End of period balance |
614.96 |
375.13 |
|
990.08 |
||
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