Saudi Arabia's budget observes deficit first time

11:25 - 13.12.2021

December 13, Fineko/abc.az. The Cabinet Ministers of Saudi Arabia has adopted a budget for 2022, which will exceed the surplus for the first time since 2013.

ABC.AZ reports that according to the approved budget, revenues will amount to 1.45 trillion Saudi riyals ($278.56 bn) and expenditures 955 billion Saudi riyals ($254.56 bn).

Thus, the budget surplus is projected at 90 bn Saudi riyals ($24 bn), or 2.5% of country's GDP.

This is the first budget of the kingdom after the fall in world oil prices in 2014, in which the income item exceeds the expenditure item.

 

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