Saudi Arabia posts SAR 1.26 trln revenue, SAR 1.16 trln expenditure in 2022

Saudi Arabia posted revenue of SAR 1.26 trillion and expenditure of SAR 1.16 trillion in 2022, with a surplus of almost SAR 103.9 billion, the Ministry of Finance announced today, March 9.

In Q4 2022, actual revenue reached SAR 317.9 billion, while expenditure stood at SAR 363.7 billion. The Kingdom posted a deficit of SAR 45.7 billion in the three-month period.

Saudi Budget Actual Revenue & Expenditure for 2022 (SAR bln)
Period	Revenue	Expenditure	Surplus/Deficit
Q1	278.0	220.5	+57.5
Q2	370.4	292.5	+77.9
Q3	301.9	287.7	+14.1
Q4	317.97	363.66	(45.69)
2022 (Actual)	1268.2	1164.3	+103.9
2022 (Estimates)	1045	955	+90
2022 (Forecasts)	1222	1132	+90

Saudi Budget Actual Revenue & Expenditure (SAR bln)
Year	Revenue	Expenditure	Surplus/Deficit
2022	1268	1164	+104
2021	965	1039	(73)
2020	782	1076	(294)
2019	927	1059	(133)
2018	906	1079	(174)
2017	692	930	(238)
2016	519	831	(311)
2015	613	1001	(389)
2014	1040	1141	(100)
2013	1153	995	158
2012	1247	917	329
2011	1118	827	291
2010	741	654	87
2009	510	596	(87)
2008	1101	520	581
2007	643	466	177
2006	674	393	280
2005	564	346	218
2004	392	285	107
2003	293	257	36
2002	213	234	(21)
2001	228	255	(27)
2000	258	235	23

Actual Revenue in 2022:

Actual revenue rose 31% to nearly SAR 1.26 trillion last year.

Oil revenue reached approximately SAR 857.3 billion, while non-oil revenue came in at SAR 410.9 billion in 2022.

Actual Revenue (SAR bln)
Revenue	2021	2022	Change
Oil revenue	562.2	857.3	+52%
Non-oil revenue	403.3	410.9	+2%
Taxes on income, profit, and capital gain	17.8	24.5	+37%
Taxes on goods and services	251.4	251.5	+0.04%
Taxes on international trade and transactions	18.7	18.7	+0.2%
Other taxes	29.2	28.4	(3%)
Other revenue	86.2	87.8	+2%
Total	965.5	1268.2	+31%

Actual Expenditure in 2022:

Actual expenditure rose by 12% YoY to almost SAR 1.16 trillion last year, as shown in the following table:

Actual Expenditure 2022 (SAR bln)
Expenditure	2021	2022	Change
Employee compensation	495.72	513.22	+4%
Use of goods & services	204.67	258.11	+26%
Financing expenses	27.38	30.31	+11%
Subsidies	29.86	29.65	(1%)
Grants	3.49	2.96	(15%)
Social benefits	69.91	79.42	+14%
Other expenses	90.69	107.17	+18%
Non-financial assets (CAPEX)	117.22	143.46	+22%
Total	1038.93	1164.31	+12%

Public Debt:

The Kingdom’s public debt increased by 7% to nearly SAR 990.08 billion in 2022, from SAR 938 billion by the end of 2021.

Public Debt (SAR bln)
Period	Public Debt (SAR bln)
End of 2021	938.0
End of 2022	990.08

Public Debt Until Q4 2022 (SAR bln)
Item	Domestic Debt	External Debt
Beginning of period balance	938.01
Beginning of period balance	558.75	379.26
Issuances or borrowing	106.65	18.75
Principal repayment	50.44	22.89
Amortization of government bonds	0	0
End of period balance	614.96	375.13
End of period balance	990.08

Details and Historical Data of General Budget

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