Economic updates
Our in-depth, independent reports cover the macroeconomic environment, the Saudi government’s annual budget, and Saudi Arabia’s monetary and financial developments, labor market, and inflation.
Saudi Arabia’s 2021 Preliminary Budget Statement
Budget reportThe main adjustment to Saudi Arabias fiscal outlook relates to the current year, with significant changes to the revenue, expenditure and the fiscal deficit. Thus, in 2020, revenue is expected to total SR770 billion, around SR63 billion (or 8 percent) lower than the previously budgeted total of SR833 billion in last years budget statement.
Q1 2021 Budget Statement: (VAT makes a difference)
Budget reportGovernment revenue totaled SR205 billion in Q1 2021, up 7 percent, or SR13 billion, year-on-year. Looking at the breakdown, oil revenue declined 9 percent year-on-year whilst non-oil revenue rose 39 percent compared to the same period last year.
