Q1 2017 Budget Statement: (Significantly yearly declines in the fiscal deficit)
Budget ReportThe first ever publication of a quarterly budget performance report by the Ministry of Finance (MoF) showed a greatly improved picture in Q1 2017, when compared to a year ago. Due to large increases in year-on-year government revenues, by 72 percent, and a drop in expenses, by 3 percent, the fiscal deficit was much lower, at SR26.2 billion, than the pro-rata quarterly figure of SR50 billion, based on the 2017 fiscal budget figure of SR198 billion.
2015 Saudi Budget
Budget ReportAnother expansionary budget was announced for 2015. Spending maintained at a very high level, underscoring the governments determination and ability to support economic activity despite the prevailing subdued oil pricing environment. A deficit of about 6 percent of GDP will be financed comfortably using SAMAs huge stock of net foreign assets. Domestic debt was cut to a long-term low of only 1.6 percent of GDP.
