The Custodian of the Two Holy Mosques King Salman bin Abdulaziz
King Salman bin Abdulaziz issued a royal decree today, Dec. 12 on the State's General Budget for the Fiscal Year 2022, stating that the state's revenues are estimated at SAR 1.045 trillion, while expenditures are approved at SAR 955 billion. Budget surplus is estimated at SAR 90 million.
Revenues shall be levied according to financial regulations and all to be deposited in the current account of the Ministry of Finance at the Saudi Central Bank (SAMA).
The Minister of Finance is authorized to withdraw from the state's general reserve account; borrow or finance, and issue debt instruments and all kinds of Sukuk, inside and outside the Kingdom.
The Minister of Finance may approve and add the incentives resulting from the achievement of government agencies ’estimated revenues in the budget and above.
The Minister of Finance shall have the right to withdraw from the reserves and to borrow in order to finance the repayment of the origin of the debt or the repayment of the obligatory and explicit government guarantees or the repayment of financial obligations which are not classified as budget's expenditures.
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