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.