Here’s a look at Saudi budget projections for 2018-2020

20/12/2017 Argaam Special

 

Saudi Arabia’s tax revenues are expected to increase by around SAR 45 billion to SAR 142 billion in 2018 compared to 2017, figures included in 2018 budget showed.

 

Tax revenues are likely to increase further by SAR 47 billion in 2020, compared to 2018.

 

Other revenues are projected to increase to SAR 720 billion in 2020 from SAR 641 billion in 2018, data showed.

 

Meanwhile, expenditure is expected to rise to SAR 1.05 trillion in 2020 from SAR 978 billion in 2018.

 

As for the debt-to-GDP ratio, the Ministry of Finance sees an increase from 21 percent in 2018 to 26 percent in 2020.

 

Saudi Budget Projections (SAR bln)

Item 

2016 actual

2017 budget

2017 estimates

2018 budget

2019 estimates

2020 estimates

Revenue

Total Revenue

519

692

696

783

843

909

Taxes

82

121

97

142

164

189

Taxes on income, profit & capital gains

15

18

14

15

16

18

Taxes on goods & services

30

56

47

85

103

124

Taxes on trade and international transactions

20

31

21

25

26

28

Other taxes

17

16

15

17

18

20

Other revenue

437

571

599

641

679

720

Expenditure

Total Expenditure

830

890

926

978

1,006

1,050

Operating expenditure

696

716

746

773

789

822

Employee compensations

409

412

440

438

445

452

Goods and services

150

153

135

143

145

146

Financing charges

5

9

9

14

19

24

Subsidies

7

7

7

14

7

7

Grants

5

3

3

3

3

3

Social benefits

41

37

44

65

74

94

Other expenditure

79

95

108

95

95

96

Non-financial assets (capital expenditure)

134

174

180

205

218

228

Budget Surplus/ deficit

Budget surplus/deficit

(311)

(198)

(230)

(195)

(163)

(141)

Budget surplus/deficit to GDP %

(12.8%)

(7.7%)

(8.9%)

(7.3%)

(5.9%)

(4.9%)

Debt and assets

Debt

317

--

438

555

673

749

Debt to GDP ratio (%)

13 %

--

17 %

21 %

24 %

26 %

Govt deposits at SAMA

683

--

584

456

411

345

Govt deposits to GDP %

28.2%

--

22.7 %

17.2 %

14.8 %

12.0 %

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