Saudi Budget: Health and education sectors account for 34.3% of spending in 2024…and military spending grows by 1.7%

Data on the expected Saudi budget for 2024, issued today, revealed that the education, health and social services sectors account for about 461 billion riyals, representing 34.3% of the total expected budget spending estimated at about 1,345 billion riyals, which reflects the government’s keenness on the importance of the two sectors closest to the lives of Saudi citizens.

The data shows that spending on the health and social development sector is expected to increase to 260 billion riyals during the year 2024, an increase of 1.7% compared to the year 2023, in which spending on the sector amounted to about 256 billion riyals. Therefore, the health and social development sector alone accounted for about 19.3% of the total Saudi budget spending during the year 2024. The health sector in the Kingdom is witnessing a remarkable development in the services provided in light of the comprehensive development witnessed by the sector and has proven its strength and ability to withstand the Corona pandemic, making the Kingdom among the most successful countries in confronting the pandemic. As for spending on the education sector, the data shows that about 201 billion riyals are expected to be spent on the sector during the current year, at a rate of about 15% of the total budget spending, but it was less than the year 2023 by about 4.4%, as the education sector represents one of the important sectors in the Saudi economy and the state is keen to provide all the capabilities for its continued development, which was reflected in the beginning of Saudi universities entering the global classifications in the scope of research and development. The data shows a 1.6% increase in military spending during 2024 to reach 259 billion riyals compared to 254 billion riyals in 2023, but it is less than the budget target by about 10 billion riyals (269 billion riyals). Spending on municipal services witnessed a remarkable growth during 2024 to reach 115 billion riyals compared to 77 billion riyals in 2023, an increase of 48.8%, in light of the diverse and intensive projects witnessed by the sector and its contribution to improving the quality of life in various regions of the Kingdom.