The Kingdom of Saudi Arabia's flag
Saudi Arabia posted revenue of over SAR 370.4 billion and expenditure of more than SAR 292.5 billion in the second quarter of 2022, with a surplus of almost SAR 78 billion, the Ministry of Finance announced today, Aug. 4.
In the first half of the year, revenue stood at SAR 648 billion, while expenditure reached SAR 512.5 million. The actual budget surplus reached SAR 135.5 billion.
|
Actual Revenue & Expenditure for 2022 (SAR bln) |
|||
|
Period |
Revenue |
Expenditure |
Surplus/Deficit
|
|
Q1 |
278.0 |
220.5 |
+57.5 |
|
Q2 |
370.4 |
292.5 |
+77.09 |
|
Q3 |
-- |
-- |
-- |
|
Q4 |
-- |
-- |
-- |
|
2022 (Estimates) |
1045 |
955 |
+90 |
Actual Revenue in H1 2022:
Actual revenue hit SAR 648.3 billion in the first six months of 2022, a rise of 43% year-on-year (YoY).
Oil and non-oil revenue stood at SAR 434 billion and SAR 214.3 billion in the same period, respectively.
|
Actual Revenue for H1 2022 (SAR bln) |
|||
|
Revenue |
H1 2021 |
H1 2022 |
Change |
|
Oil revenue |
248.73 |
434.06 |
+75% |
|
Non-oil revenue |
204.14 |
214.26 |
+5% |
|
Taxes on income, profit & capital gains (including corporate income tax and tax on foreign companies) |
10.40 |
14.35 |
+38% |
|
Tax on goods & services (including value-added tax and excise tax) |
121.66 |
124.64 |
+2% |
|
Tax on trade international & transactions (customs fees) |
8.34 |
10.49 |
+26% |
|
Other taxes (including Zakat) |
22.60 |
23.02 |
+2% |
|
Other revenues |
41.14 |
41.76 |
+2% |
|
Total |
452.87 |
648.32 |
+43% |
Actual Expenditure in H1 2022:
Actual expenditure grew by 10% YoY to SAR 512.9 billion in H1 2022.
|
Actual Expenditure H1 2022 (SAR bln) |
|||
|
Expenditure |
H1 2021 |
H1 2022 |
Change |
|
Employee compensation |
245.72 |
251.09 |
+2% |
|
Use of goods & services |
73.14 |
97.15 |
+33% |
|
Financing expenses |
13.19 |
14.20 |
+8% |
|
Subsidies |
9.65 |
11.57 |
+20% |
|
Grants |
3.22 |
1.70 |
(47 %) |
|
Social benefits |
41.77 |
41.99 |
+1% |
|
Other expenses |
41.38 |
44.40 |
+7% |
|
Non-financial assets (CAPEX) |
36.84 |
50.83 |
+38% |
|
Total |
464.92 |
512.93 |
+10% |
Public Debt:
The Kingdom’s public debt rose to SAR 966.5 billion in H1 2022, from SAR 938 billion in the prior-year period.
|
Public Debt |
|
|
Period |
Public Debt (SAR bln) |
|
2021 |
938.0 |
|
H1 2022 |
966.5 |
|
Public Debt until H1 2022 (SAR bln) |
||
|
Item |
Domestic Debt |
External Debt |
|
Beginning of period balance |
938.01 |
|
|
558.75 |
379.26 |
|
|
Issuances or borrowing |
83.01 |
-- |
|
Principal repayment |
36.99 |
17.50 |
|
Amortization of government bonds |
-- |
-- |
|
End of period balance |
604.76 |
361.76 |
|
966.52 |
||
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