2016 Saudi Budget

The governments budget for the 2016 fiscal year (31 December 2015 to 30 December 2016) was endorsed by the Council of Ministers on 28th December. It points to a sustained commitment in maintaining a high level of spending on the economy despite the continued environment of lower oil prices. The government has budgeted for a SR326 billion deficit in nominal terms, based on revenues of SR514 billion and expenditures of SR840 billion. The deficit will continue to be financed using a combination of Saudi Arabian Monetary Agencys (SAMA) huge stock of net foreign assets, and domestic debt.