Saudi Arabia posted revenue of over SAR 950.2 billion and expenditure of SAR 800.7 billion in the first nine months of 2022, with a surplus of almost SAR 149.5 billion, the Ministry of Finance announced today, Oct. 31.
In the third quarter, revenue stood at SAR 301.87 billion, while expenditure reached SAR 287.73 billion. The actual budget surplus reached SAR 14.14 billion.
|
Saudi Budget 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 |
301.9 |
287.7 |
+14.1 |
|
Q4 |
-- |
-- |
-- |
|
2022 (Estimates) |
1045 |
955 |
+90 |
Actual Revenue in 9M 2022:
Actual revenue hit SAR 950.2 billion in the first nine months of 2022, a rise of 36% year-on-year (YoY).
Oil revenue came in at SAR 663.09 billion in the nine-month period, while non-oil revenue stood at SAR 287.11 billion.
|
Actual Revenue for 9M 2022 (SAR bln) |
|||
|
Revenue |
9M 2021 |
9M 2022 |
Change |
|
Oil revenue |
396.7 |
663.1 |
+67% |
|
Non-oil revenue |
299.5 |
287.1 |
(4%) |
|
Taxes on income, profit & capital gains (including corporate income tax and tax on foreign companies) |
13.9 |
17.7 |
+27% |
|
Tax on goods & services (including value-added VAT and excise tax) |
187.8 |
169.5 |
(10%) |
|
Tax on trade international & transactions (customs fees) |
13.1 |
14.4 |
+10% |
|
Other taxes |
25.4 |
25.2 |
(1%) |
|
Other revenues |
59.5 |
60.4 |
+2% |
|
Total |
696.2 |
950.2 |
+36% |
Actual Expenditure in 9M 2022:
Actual expenditure jumped 14% YoY to SAR 800.65 billion in the first nine months of the year.
|
Actual Expenditure 9M 2022 (SAR bln) |
|||
|
Expenditure |
9M 2021 |
9M 2022 |
Change |
|
Employee compensation |
369.2 |
377.9 |
+2% |
|
Use of goods & services |
114.3 |
150.6 |
+32% |
|
Financing expenses |
19.7 |
22.3 |
+13% |
|
Subsidies |
14.0 |
19.2 |
+37% |
|
Grants |
3.4 |
1.9 |
(44%) |
|
Social benefits |
54.2 |
59.8 |
+10% |
|
Other expenses |
62.9 |
77.7 |
+24% |
|
Non-financial assets (CAPEX) |
64.0 |
91.3 |
+43% |
|
Total |
701.6 |
800.65 |
+14% |
Public Debt:
The Kingdom’s public debt increased 4% to SAR 971.8 billion in 9M 2022, from SAR 938 billion by the end of 2021.
|
Public Debt |
|
|
Period |
Public Debt (SAR bln) |
|
2021 |
938.0 |
|
9M 2022 |
971.8 |
Public debt breakdown by end of 9M 2022:
|
Public Debt until 9M 2022 (SAR bln) |
||
|
Item |
Domestic Debt |
External Debt |
|
Beginning of period balance |
938.01 |
|
|
558.75 |
379.26 |
|
|
Issuances or borrowing |
93.23 |
-- |
|
Principal repayment |
41.92 |
17.50 |
|
Amortization of government bonds |
0 |
-- |
|
End of period balance |
610.05 |
361.76 |
|
971.81 |
||
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