Ministry of Finance Issues Statement on General Budget of the State 4

  • 2/5/2023
  • 14:41
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Expenditure Government spending for 2016, after excluding expenses related to previous years, is expected to reach SAR 825 billion, a 1.8% decrease compared to SAR 840 billion projected at the start of the year, and 15.6% less than last year’s expenditure of SAR 978 billion. The main reason behind this drop is the government’s decision to exert greater control over spending and review existing and new projects, and to continue settling due payments for contractors, suppliers and individuals. Total spending, including the exclusions for the purpose of like-for-like comparison with last year’s budget, is SAR 930 billion. (SAR billion) Revenues expected during the current fiscal year 1437/1438H (2016)528 Expenditure expected during the current fiscal year 1437/1438H (2016)825 Deficit expected for the current fiscal year 1437/1438H (2016)-297 Spending related to fiscal year 1436/1437H (2015)80 Spending related to surplus projects (mainly transport and housing)25 Net expenditure on due payments for the previous years105 Net projected expenditure during the current fiscal year 1437/1438H (2016) 825 Total expenditure expected by the end of the current fiscal year 1437/1438H (2016), including late due payments for the previous year 930 --More 19:40 LOCAL TIME 16:40 GMT www.spa.gov.sa/w296776

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