Saudi Arabia posts SAR 278 bln revenue, SAR 220.5 bln expenditure in Q1 2022

Saudi Arabia posted revenue of SAR 278 billion and expenditure of SAR 220.5 billion in the first quarter of 2022, with a surplus of SAR 57.5 billion, the Ministry of Finance announced today, May 15.

Actual Revenue & Expenditure for 2022 (SAR bln)
Period	Revenue	Expenditure	Surplus/deficit (SAR bln)
Q1	278	220.5	+57.5
Q2	--	--	--
Q3	--	--	--
Q4	--	--	--
2022 (Estimates)	1,045	955	+90

Actual Revenue in Q1 2022:

Actual revenue hit SAR 277.96 billion in the first quarter, a rise of 36% year-on-year (YoY).

Oil and non-oil revenue stood at SAR 183.7 billion and SAR 94.26 billion in the same period, respectively.

Actual Revenue (SAR bln)
Revenue	Q1 2021	Q1 2022	Change
Oil revenue	116.58	183.70	58%
Non-oil revenue	88.19	94.26	7%
Taxes on income, profit, & capital gain	3.22	4.11	28%
Taxes on goods & services	53.67	60.42	13%
Taxes on international trade & transactions	4.02	5.06	26%
Other taxes (including Zakat)	3.00	3.18	6%
Other revenues	24.28	21.49	(11%)
Total	204.76	277.96	36%

Actual Expenditure in Q1 2022:

Actual expenditure grew by 4% YoY to SAR 220.5 billion in the first quarter of the year.

Actual Expenditure Q1 2022 (SAR bln)
Expenditure	Q1 2021	Q1 2022	Change
Employee compensation	122.90	125.17	2%
Use of goods & services	27.61	31.81	15%
Financing expenses	5.76	6.61	15%
Subsidies	5.42	4.88	(10%)
Grants	2.76	0.34	(88%)
Social benefits	12.28	12.67	3%
Other expenses	20.54	24.16	18%
Non-financial assets (CAPEX)	14.94	14.84	(1%)
Total	212.20	220.47	4%

Public Debt:

The Kingdom’s public debt rose to SAR 958.64 billion in Q1 2022, from SAR 938 billion in the prior-year period.

Public Debt (SAR bln)
Period	Public Debt (SAR bln)
2021	938.0
Q1 2022	958.6

Public Debt until Q1 2022 (SAR bln)
Item	Domestic Debt	External Debt
Beginning of period balance	938
Beginning of period balance	558.75	379.26
Issuances or borrowing	52.63	--
Principal repayment	(32.00)	--
Amortization of government bonds	--	--
End of period balance	579.38	379.26
End of period balance	958.64

Spending:

The government allocated SAR 45.6 billion for education in Q1 2022 budget, military sector (SAR 42.65 billion) and health and social development (SAR 37.7 billion).

Spending in Q1 2022 (Actual Amounts) – SAR bln
Sector	Allocation
Public Administration	7.79
Military	42.65
Security and Administrative Regions	23.58
Municipal Services	7.60
Education	45.55
Health Services and Social Development	37.73
Economic Resources	11.25
Infrastructure and Transportation	9.06
General Items	35.27
Total	220.47

Historical Data and Details of the General Budget

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