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Saudi Arabia’s Ministry of Finance announced the Q2 2021 budget. Total revenue stood at SAR 248.1 billion, while total expenditure reached SAR 252.7 billion in the second quarter of 2021. Budget deficit stood at SAR 4.6 billion in Q2 2021.
Meanwhile, H1 2021 revenue amounted to SAR 452.87 billion, while total expenditure reached SAR 464.92 billion. Budget deficit stood at SAR 12.06 billion during the first half of 2021.
|
Actual Revenue & Expenditure for 2021 (SAR bln) |
|||
|
Period |
Revenue |
Expenditure |
Surplus/deficit (SAR bln) |
|
Q1 |
204.8 |
212.2 |
(7.4) |
|
Q2 |
248.1 |
252.7 |
(4.6) |
|
Q3 |
-- |
-- |
-- |
|
Q4 |
-- |
-- |
-- |
|
2021 (Estimates) |
849.1 |
990.0 |
(140.9) |
Actual Revenue in H1 2021:
Total actual revenue hit SAR 452.87 billion in the first half of the year, a rise of 39% year-on-year (YoY).
Oil and non-oil revenue stood at SAR 248.73 billion and SAR 204.41 billion in the same period, respectively.
|
Actual Revenue (SAR bln) |
|||
|
Revenue |
H1 2020 |
H1 2021 |
Variation |
|
Oil revenue |
224.49 |
248.73 |
+11% |
|
Non-oil revenue |
101.53 |
204.14 |
+101% |
|
Taxes on income, profit, and capital gain (including foreign corporate income taxes) |
5.21 |
10.40 |
+100% |
|
Taxes on goods and services (including Excise tax and VAT) |
41.16 |
121.66 |
+196% |
|
Taxes on international trade and transactions (custom duties) |
7.81 |
8.34 |
+7% |
|
Other taxes (including Zakat) |
5.42 |
22.60 |
+317% |
|
Other revenues |
41.91 |
41.14 |
(2%) |
|
Total |
326.01 |
452.87 |
+39% |
Actual Expenditure in H1 2021:
Total actual expenditure edged down 1% YoY to SAR 465 billion in the first half of the year.
The Kingdom’s public debt reached SAR 922 billion in Q2 2022.
|
Actual Expenditure H1 2021 (SAR bln) |
|||
|
Expenditures |
H1 2020 |
H1 2021 |
Variation |
|
Compensation of employees |
249.27 |
245.72 |
(1%) |
|
Use of goods and services |
61.94 |
73.14 |
+18% |
|
Financing expenses |
11.42 |
13.19 |
+15% |
|
Subsidies |
13.34 |
9.65 |
(28%) |
|
Grants |
2.37 |
3.22 |
+36% |
|
Social benefits |
27.64 |
41.77 |
+51% |
|
Other expenses |
45.98 |
41.38 |
(10%) |
|
Non-financial assets (CAPEX) |
57.40 |
36.84 |
(36%) |
|
Total |
469.36 |
464.92 |
(1%) |
|
Public Debt (SAR bln) |
|
|
Period |
Public Debt (SAR bln) |
|
End of 2020 |
853.5 |
|
H1 2021 |
922.8 |
|
Public Debt in H1 2021 (SAR bln) |
|||
|
Item |
Domestic Debt |
|
External Debt |
|
Beginning of period balance |
853.51 |
||
|
502.66 |
|
350.86 |
|
|
Issuances or borrowing |
37.30 |
|
36.77 |
|
Principal repayment |
4.68 |
|
50 |
|
Amortization of government bonds |
0 |
|
0 |
|
End of period balance |
535.27 |
|
387.57 |
|
922.85 |
|||
|
Deficit financing until H1 2021 (SAR bln) |
|||
|
Period |
Q1 2021 |
Q2 2021 |
Total |
|
Deficit/Surplus |
(7.44) |
(4.61) |
(12.06) |
|
Financing |
|||
|
Current account |
0 |
0 |
0 |
|
Government reserves |
0 |
0 |
0 |
|
Financing from domestic borrowing |
6.13 |
17.67 |
23.80 |
|
Financing from external borrowing |
23.42 |
3.88 |
27.30 |
|
Total financing |
29.55 |
21.54 |
51.09* |
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