Saudi Arabia Government has approved the General budget for Saudi for the Financial year 2022 with an estimate of SR 1045 Billion (Saudi Riyals) & wioth a spending of SR 955 Billion (Saudi Riyals).
King Salman held a session with the cabinet to finalized the FY 22 Budget with a surplus of SR $90 Billion as per the News sources.
Saudi Arabia Budget 2022
King Salman reiterated the government’s determination to continue implementing economic initiatives to boost economy & reforms to realize the targets of Saudi Vision 2030 and also to develop the quality of life with optimizing the available resources and using it at its best. He also emphasized the government’s keenness on increasing the levels of transparency and efficiency and quality of government expenditure so as to enhance growth and development rates, develop the basic facilities and services for citizens and residents, improve the educational environment and support housing plans.
Saudi Arabia Budget Allocation for 2022 (Expenditure):
- Basic equipment and transportation: 42 billion riyals
- General items sector: 182 billion riyals
- Security and administrative regions sector: 101 billion riyals
- Military: 171 billion riyals
- General administration sector: 32 billion riyals
- Economic resources sector: 54 billion riyals
- Health and social development sector: 138 billion riyals
- Municipal services sector: 50 billion riyal
- Education sector: 185 billion riyals