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.
2014 Saudi Budget
Budget reportAnother expansionary budget was announced for 2014. The budget highlights the government's intention to continue to stimulate the economy. Budgeted spending and revenues were both at all-time highs. Spending priorities are consistent with previous years.
Saudi Arabia's 2017 Fiscal Budget
Budget reportThe governments budget for the 2017 fiscal year (31 December 2016 to 30 December 2017) was endorsed by the Council of Ministers on 22nd December. It points to an expansionary stance and is also in line with the National Transformation Programs (NTP) target of reaching a balanced budget by 2020.
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.
