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Saudi Arabia has announced its budget for 2021, with revenues estimated at 849 bln riyals for the coming year.
Saudi Arabia’s King Salman confirmed that approved expenditures in the Kingdom’s budget for 2021 will amount to 990 billion riyals, revenues at 849 billion riyals, and an estimated deficit of 141 billion riyals, representing 4.9 percent of the GDP.
Last September, the Kingdom’s Finance Ministry announced a preliminary statement of the estimated budget for 2021, with public revenues estimated at 846 bln riyals, and expenditures at 990 bln riyals.
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Saudi Arabia said at the time that it plans to cut spending by 7.5 percent in next year’s budget to 990 billion riyals ($263.94 billion) but expects the economy to return to growth as its management of the coronavirus crisis improves, a preliminary budget statement showed.
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Last Update: Tuesday, 15 December 2020 KSA 21:54 – GMT 18:54
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