Saudi Arabia is poised to face a budget deficit in 2015 as oil prices dropped to a 5-year low.
The oil-rich kingdom, which traditionally announces the budget in the last 10 days of December during the weekly Monday cabinet meeting, is expected to release the projected 2015 budget and the actual 2014 budget tomorrow or Monday next week .
The Finance Ministry has projected the revenue of 2014 to be SAR 855 billion and expenditure to be SAR 855 billion.
|
The date of Saudi budget announcement during the past 6 years |
|
|
Budget |
Announcement date |
|
2015 |
?? |
|
2014 |
Monday December 23, 2013 |
|
2013 |
Saturday December 29, 2012 |
|
2012 |
Monday December 26, 2011 |
|
2011 |
Monday December 20, 2010 |
|
2010 |
Monday December 21, 2009 |
|
2009 |
Monday December 22, 2008 |
In the last 5 years, the country registered a budget deficit of SAR 45 billion in 2009 following the global financial crisis and the drop in demand for oil because of global recession.
The country had a surplus otherwise, especially in 2012 when budget surplus reached SAR 386 billion, according to Argaam.
|
Saudi’s budget revenue and expenditure (2009-2013) |
|||
|
Surplus (SAR bn) |
Expenditure (SAR bn) |
Revenue (SAR bn) |
Year |
|
؟؟ |
؟؟ |
؟؟ |
2014 |
|
206 |
925 |
1131 |
2013 |
|
386 |
853 |
1239 |
2012 |
|
306 |
804 |
1110 |
2011 |
|
108 |
627 |
735 |
2010 |
|
(45) |
550 |
505 |
2009 |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}