Riyadh December 6 2023: Saudi Arabia cabinet approved state’s general budget for the fiscal year 1445/1446 Hijri (2024) with an outlay of SAR 1,251 billion (USD 333.6 billion).
The Cabinet reviewed the items of the budget and issued its decision regarding the state’s general budget for the fiscal year 1445/1446 Hijri (2024).
Revenues are estimated at (SAR 1,172 billion or USD 312.5 Billion) one trillion one hundred seventy-two billion Saudi riyals and Expenditures shall be approved in the amount of (SAR 1,251 billion or USD 333.6 billion) one trillion two hundred fifty-one billion Saudi riyals.
The deficit is estimated at (SAR 79 billion or USD 21.1 Billion) seventy-nine billion Saudi riyals.
The ministry estimated the 2024 capital expenditure at SAR 189 billion, or 15% of total spending. Oil and non-oil revenues are expected to reach SAR 752 billion and SAR 441 billion, respectively
The Custodian of the Two Holy Mosques directed the ministers and officials to actively commit to implementing the development and social programs and projects included in the budget.
| Revenues and Expenditure of Saudi Budget (2000-2024) | |||
| Year | Revenues (SAR billion) | Expenditure (SAR billion) | Surplus/Deficit (SAR billion) |
| 2024 Estimates | 1172 | 1251 | (79) |
| 2023 Forecasts | 1193 | 1275 | (82) |
| 2022 Actual | 1268 | 1164 | 104+ |
| 2021 | 965 | 1039 | (73) |
| 2020 | 782 | 1076 | (294) |
