AI Summary
Saudi Arabia announced on Monday its state budget for 2020 with estimated revenues of SAR 833 billion, a decline of 9.1% year-on-year (YoY) and public expenditure of SAR 1.020 trillion.
Budget deficit is expected to reach SAR 187 billion next year.
|
Actual Revenue and Expenditure (2000 - 2019) |
|||
|
Year |
Revenue (SAR bln) |
Expenditure (SAR bln) |
Deficit (SAR bln) |
|
2020 (estimates) |
833 |
1,020 |
(187) |
|
2019 (Forecasts) |
917 |
1,048 |
(131) |
|
2018 |
906 |
1,079 |
(174) |
|
2017 |
692 |
930 |
(238) |
|
2016 |
519 |
831 |
(311) |
|
2015 |
613 |
1,001 |
(389) |
|
2014 |
1,040 |
1,141 |
(101) |
|
2013 |
1,153 |
995 |
158 |
|
2012 |
1,247 |
917 |
329 |
|
2011 |
1,118 |
827 |
291 |
|
2010 |
741 |
654 |
87 |
|
2009 |
510 |
596 |
(87) |
|
2008 |
1101 |
520 |
581 |
|
2007 |
643 |
466 |
177 |
|
2006 |
674 |
393 |
280 |
|
2005 |
564 |
346 |
218 |
|
2004 |
392 |
285 |
107 |
|
2003 |
293 |
257 |
36 |
|
2002 |
213 |
234 |
(21) |
|
2001 |
228 |
255 |
(27) |
|
2000 |
258 |
235 |
23 |
In 2019, the Kingdom saw expenditures of SAR 1.048 trillion, a decline of SAR 60 billion compared to estimates of SAR 1.106 trillion.
Revenue stood at SAR 917 billion, with SAR 131 billion deficit in the current year.
|
Actual Expenditure Vs. Budgeted Expenditure (2004 - 2019) |
|||
|
Year |
Budgeted expenditure (SAR bln) |
Actual expenditure (SAR bln) |
Variation (SAR bln) |
|
2020 (estimates) |
1,020 |
-- |
-- |
|
2019 (Forecasts) |
1,106 |
1,048 |
(60) |
|
2018 |
978 |
1, 079 |
+ 101 |
|
2017 |
890 |
930 |
+ 40 |
|
2016 |
840 |
831 |
(9) |
|
2015 |
860 |
1,001 |
+ 141 |
|
2014 |
855 |
1,141 |
+ 286 |
|
2013 |
820 |
995 |
+ 175 |
|
2012 |
690 |
917 |
+ 227 |
|
2011 |
580 |
827 |
+ 247 |
|
2010 |
540 |
654 |
+ 114 |
|
2009 |
475 |
596 |
+ 121 |
|
2008 |
410 |
520 |
+ 110 |
|
2007 |
380 |
466 |
+ 86 |
|
2006 |
335 |
393 |
+ 58 |
|
2005 |
280 |
346 |
+ 66 |
|
2004 |
230 |
285 |
+ 55 |
Oil revenue is projected at SAR 513 billion in 2020, down 14.7% YoY.
Meanwhile, non-oil revenue is forecast to grow by 1.6% YoY next year to SAR 320 billion.
|
Revenue Details (2019 & 2020) |
|||
|
Year |
Oil revenue (SAR bln) |
Non-oil revenue (SAR bln) |
Total (SAR bln) |
|
2020 (estimates) |
513 |
320 |
833 |
|
2019 |
602 |
315 |
917 |
Gross domestic product (GDP) decreased by 4.7% in 2019 to SAR 2.811 trillion. The inflation rate edged down 1% YoY, compared to 2018.
|
Major Economic Data |
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|
Item |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
|||||||||||
|
GDP (SAR bln) |
1981 |
2517 |
2760 |
2800 |
2836 |
2454 |
2419 |
2582 |
2949 |
2811 |
|||||||||||
|
Inflation |
3.8 % |
3.7 % |
2.9 % |
3.5 % |
2.7 % |
2.2 % |
3.4 % |
(0.01%) |
2.6 % |
(1.0%) |
|||||||||||
Public debt is expected at SAR 754 billion in 2020, or 26% of the Kingdom’s GDP.
Meanwhile, public debt increased to SAR 678 billion by the end of 2019, accounting for 24% of GDP, compared to SAR 560 billion a year earlier.
|
Major Economic Data |
|||||||||||||||||||||
|
Item |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
|||||||||||
|
Public Debt (SAR bln) |
167 |
135.5 |
83.8 |
60.1 |
44.3 |
142.3 |
316.6 |
443.3 |
560 |
678 |
|||||||||||
|
Public Debt to GDP |
8.4 % |
5.4 % |
3.0 % |
2.1 % |
1.6 % |
5.8 % |
13.1 % |
17.3% |
19.0% |
24 % |
|||||||||||
The government allocated SAR 193 billion to the education sector, SAR 182 billion to the military sector, and SAR 167 billion to the health services and social development sector.
|
Budget Breakdown 2020 (SAR bln) |
|
|
Sector |
Allocation |
|
Public administration |
28 |
|
Education |
193 |
|
Health services and social development |
167 |
|
Municipal services |
54 |
|
Military |
182 |
|
Security and regional administration |
102 |
|
Basic equipment and transport |
56 |
|
Economic resources |
98 |
|
General Items |
141 |
|
Total |
1,020 |
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