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  • 12-12-21

    Saudi Arabia to post is 2022 budget in December

    (MENAFN) Saudi Arabia is going to state its budget for the next fiscal year as of December amidst various predictions from global and national organizations with some projecting a surplus while others predicting a decreasing budget deficit.

    But, in its pre-budget declaration, the Saudi Finance Ministry projected the fiscal balance to hit deficits of SR85 billion (USD22.7 billion) and SR52 billion (about USD13.8b) in this year and the next year correspondingly.

    Based on the official prediction, this years’ deficit, is going to be about 2.7 percent of the gross domestic product whereas the upcoming year it is predicted to drop to 1.6 percent.

    In spite of changing predictions, the economy of the country stayed positive despite coronavirus constraints mostly because of the government’s aid to different fields as is apparent via different pointers and reports published by well-known organizations such as the International Monetary Fund, the World Bank, Goldman Sachs, etc.

    MENAFN12122021000045013568ID1103345051

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