Latest Breaking News On - Support vision - Page 6 : comparemela.com

Three words come to mind when looking at the Saudi budget: Prudence, realism and responsiveness. Like all economies, Saudi Arabia was affected by the pandemic. The Ministry of Finance (MoF) expects GDP to decline by 3.8 percent in 2020 and rise by 3.2 percent for 2021. The MoF forecasts the 2021 budget to have revenues of SR846 billion ($225 billion), expenditures of SR990 billion and a deficit of SR145 billion 12 percent compared to 4.5 percent in 2019. The MoF foresees the budget deficit to be lowered to 5.1 percent in 2021, which would be a great achievement. Public debt is expected to steadily grow from SR854 billion in 2020, or 34.4 percent of GDP, to SR1.029 trillion in 2023, at which point it will reach 31.8 percent of GDP. This is low by international comparison and prudent, given the Kingdom’s debt capacity. It underlines the maxim of prudent and sustainable financial management, which the MoF pre-budget statement highlights repeatedly.

Saudi arabiaRiyadhAr riyaWomanBahrainSaudisSaudiCornelia meyerMinistry of finance moReutersMonthly oil marketMonthly oil market reportSupport visionசவுதி அரேபியாரியாட்ஆர் ரியா