Saudi Arabia posted revenue of SAR 278 billion and expenditure of SAR 220.5 billion in the first quarter of 2022, with a surplus of SAR 57.5 billion, the Ministry of Finance announced today, May 15.
|
Actual Revenue & Expenditure for 2022 (SAR bln) |
|||
|
Period |
Revenue |
Expenditure |
Surplus/deficit (SAR bln) |
|
Q1 |
278 |
220.5 |
+57.5 |
|
Q2 |
-- |
-- |
-- |
|
Q3 |
-- |
-- |
-- |
|
Q4 |
-- |
-- |
-- |
|
2022 (Estimates) |
1,045 |
955 |
+90 |
Actual Revenue in Q1 2022:
Actual revenue hit SAR 277.96 billion in the first quarter, a rise of 36% year-on-year (YoY).
Oil and non-oil revenue stood at SAR 183.7 billion and SAR 94.26 billion in the same period, respectively.
|
Actual Revenue (SAR bln) |
|||
|
Revenue |
Q1 2021 |
Q1 2022 |
Change |
|
Oil revenue |
116.58 |
183.70 |
58% |
|
Non-oil revenue |
88.19 |
94.26 |
7% |
|
Taxes on income, profit, & capital gain |
3.22 |
4.11 |
28% |
|
Taxes on goods & services |
53.67 |
60.42 |
13% |
|
Taxes on international trade & transactions |
4.02 |
5.06 |
26% |
|
Other taxes (including Zakat) |
3.00 |
3.18 |
6% |
|
Other revenues |
24.28 |
21.49 |
(11%) |
|
Total |
204.76 |
277.96 |
36% |
Actual Expenditure in Q1 2022:
Actual expenditure grew by 4% YoY to SAR 220.5 billion in the first quarter of the year.
|
Actual Expenditure Q1 2022 (SAR bln) |
|||
|
Expenditure |
Q1 2021 |
Q1 2022 |
Change |
|
Employee compensation |
122.90 |
125.17 |
2% |
|
Use of goods & services |
27.61 |
31.81 |
15% |
|
Financing expenses |
5.76 |
6.61 |
15% |
|
Subsidies |
5.42 |
4.88 |
(10%) |
|
Grants |
2.76 |
0.34 |
(88%) |
|
Social benefits |
12.28 |
12.67 |
3% |
|
Other expenses |
20.54 |
24.16 |
18% |
|
Non-financial assets (CAPEX) |
14.94 |
14.84 |
(1%) |
|
Total |
212.20 |
220.47 |
4% |
Public Debt:
The Kingdom’s public debt rose to SAR 958.64 billion in Q1 2022, from SAR 938 billion in the prior-year period.
|
Public Debt (SAR bln) |
|
|
Period |
Public Debt (SAR bln) |
|
2021 |
938.0 |
|
Q1 2022 |
958.6 |
|
Public Debt until Q1 2022 (SAR bln) |
||
|
Item |
Domestic Debt |
External Debt |
|
Beginning of period balance |
938 |
|
|
558.75 |
379.26 |
|
|
Issuances or borrowing |
52.63 |
-- |
|
Principal repayment |
(32.00) |
-- |
|
Amortization of government bonds |
-- |
-- |
|
End of period balance |
579.38 |
379.26 |
|
958.64 |
||
Spending:
The government allocated SAR 45.6 billion for education in Q1 2022 budget, military sector (SAR 42.65 billion) and health and social development (SAR 37.7 billion).
|
Spending in Q1 2022 (Actual Amounts) – SAR bln |
|
|
Sector |
Allocation |
|
Public Administration |
7.79 |
|
Military |
42.65 |
|
Security and Administrative Regions |
23.58 |
|
Municipal Services |
7.60 |
|
Education |
45.55 |
|
Health Services and Social Development |
37.73 |
|
Economic Resources |
11.25 |
|
Infrastructure and Transportation |
9.06 |
|
General Items |
35.27 |
|
Total |
220.47 |
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