Q1 2020 Budget Statement: (Greater fiscal pain to come)
Budget ReportGovernment revenue totaled SR192 billion in Q1 2020, down 22 percent, or SR53 billion, year-on-year. Declines were seen in both oil and non-oil revenue.
2019 Saudi Fiscal Budget
Budget ReportAs outlined in the first ever preliminary fiscal budget in September, the government will support the economy through the largest ever budgeted expenditure of SR1.1 trillion in 2019. Based on revenues of SR975 billion, the government is budgeting for a slightly lower year-on-year deficit at SR131 billion, compared to SR136 billion in 2018.
2018 Saudi Fiscal Budget
Budget ReportThe government continues to support the economy through the largest ever budgeted expenditure of SR978 billion in 2018, compared with 2017s budget of SR890 billion. Based on revenues of SR783 billion, the government is budgeting for a slightly lower year-on-year deficit at SR195 billion, compared to our forecast of SR220 billion.
Q1 2018 Budget Report: (Social Benefits contribute to higher expenditure)
Budget ReportThe Q1 2018 quarterly budget statement shows the governments efforts to raise non-oil revenue is working, with a near triple yearly rise in 'Taxes on goods and services seen during the quarter.
