Saudi 2020 budget deficit expected to hit SAR 187 bln

Saudi Arabia announced on Monday its state budget for 2020 with estimated revenues of SAR 833 billion, a decline of 9.1% year-on-year (YoY) and public expenditure of SAR 1.020 trillion.

Budget deficit is expected to reach SAR 187 billion next year.

Actual Revenue and Expenditure (2000 - 2019)
Year	Revenue (SAR bln)	Expenditure (SAR bln)	Deficit (SAR bln)
2020 (estimates)	833	1,020	(187)
2019 (Forecasts)	917	1,048	(131)
2018	906	1,079	(174)
2017	692	930	(238)
2016	519	831	(311)
2015	613	1,001	(389)
2014	1,040	1,141	(101)
2013	1,153	995	158
2012	1,247	917	329
2011	1,118	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

In 2019, the Kingdom saw expenditures of SAR 1.048 trillion, a decline of SAR 60 billion compared to estimates of SAR 1.106 trillion.

Revenue stood at SAR 917 billion, with SAR 131 billion deficit in the current year.

Actual Expenditure Vs. Budgeted Expenditure (2004 - 2019)
Year	Budgeted expenditure (SAR bln)	Actual expenditure (SAR bln)	Variation (SAR bln)
2020 (estimates)	1,020	--	--
2019 (Forecasts)	1,106	1,048	(60)
2018	978	1, 079	+ 101
2017	890	930	+ 40
2016	840	831	(9)
2015	860	1,001	+ 141
2014	855	1,141	+ 286
2013	820	995	+ 175
2012	690	917	+ 227
2011	580	827	+ 247
2010	540	654	+ 114
2009	475	596	+ 121
2008	410	520	+ 110
2007	380	466	+ 86
2006	335	393	+ 58
2005	280	346	+ 66
2004	230	285	+ 55

Oil revenue is projected at SAR 513 billion in 2020, down 14.7% YoY.

Meanwhile, non-oil revenue is forecast to grow by 1.6% YoY next year to SAR 320 billion.

Revenue Details (2019 & 2020)
Year	Oil revenue (SAR bln)	Non-oil revenue (SAR bln)	Total (SAR bln)
2020 (estimates)	513	320	833
2019	602	315	917

Gross domestic product (GDP) decreased by 4.7% in 2019 to SAR 2.811 trillion. The inflation rate edged down 1% YoY, compared to 2018.

Major Economic Data
Item		2010			2011		2012		2013		2014		2015		2016		2017		2018		2019
GDP (SAR bln)			1981	2517		2760		2800		2836		2454		2419		2582		2949		2811
Inflation	3.8 %			3.7 %		2.9 %		3.5 %		2.7 %		2.2 %		3.4 %		(0.01%)		2.6 %		(1.0%)

Public debt is expected at SAR 754 billion in 2020, or 26% of the Kingdom’s GDP.

Meanwhile, public debt increased to SAR 678 billion by the end of 2019, accounting for 24% of GDP, compared to SAR 560 billion a year earlier.

Major Economic Data
Item		2010			2011		2012		2013		2014		2015		2016		2017		2018		2019
Public Debt (SAR bln)			167	135.5		83.8		60.1		44.3		142.3		316.6		443.3		560		678
Public Debt to GDP	8.4 %			5.4 %		3.0 %		2.1 %		1.6 %		5.8 %		13.1 %		17.3%		19.0%		24 %

The government allocated SAR 193 billion to the education sector, SAR 182 billion to the military sector, and SAR 167 billion to the health services and social development sector.

Budget Breakdown 2020 (SAR bln)
Sector	Allocation
Public administration	28
Education	193
Health services and social development	167
Municipal services	54
Military	182
Security and regional administration	102
Basic equipment and transport	56
Economic resources	98
General Items	141
Total	1,020

Saudi budget

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