Saudi Budget: Government stops external borrowing, paid SR17.5 bln debts in 1H

The public debt of the Kingdom of Saudi Arabia rose to SR 966.519 billion at the end of the second quarter of this year, an increase of SR 28.509 billion from its levels at the end of 2021, which was SR 938.01 billion.

According to the budget statement, the increase came from local issuances and borrowings, amounting to SR 83.008 billion during the first half of 2022, while about SR 36.997 billion of the principal debt were paid off during the same period.

According to the statement, the level of external debts decreased by SR 17.502 billion to SR 361.761 billion from its levels at the end of 2021, which was SR 379.263,. This means that the government did not issue any international debt during the first half of this year, but rather paid SR 17.5 billion external debt.

The Kingdom of Saudi Arabia announced the Kingdom’s budget for the second quarter of this year 2022 with total revenues of SR 370,365 billion, and expenses amounting to SR 292.458 billion, with a surplus during the three months ending on June 30, 2022 amounted to SR 77.907 billion.

Revenues amounted to SR 648.324 billion at the end of the first half of this year, and expenses reached SR 512.925 billion, bringing the surplus during the first 6 months of this year to SR 135,399 billion.