Saudi Debt Servicing Stood, at SR19.7 billion 

Expenditures increased by 17% to SR19.736 billion, in the nine months of 2021, compared to SR16.853 billion, in the same period the previous year, Saudi budget statement for Q3-2021 revealed.

The financing expenses, according to the Ministry of Finance’s statement, are the sums that the government must pay to creditors, against the principal of debt, in place, such as treasury bonds, government instruments, loans, and receivable accounts.

The public debt reached SR948,322 billion, at the end of the first nine months of this year, up SR94.8 billion at the end of 2020, when it was standing at SR853.515 billion.

Q3-2021, internal debt increased to SR560.557 billion, up SR57.9 billion from 2020’s level of SR502.657 billion, while external debt increased to SR387.766 billion, up SR36.9 billion from last year’s level of SR350,859 billion.

As much as SR23.795 billion in internal debts and SR27.296 billion in external debts were borrowed, during the nine months of this year, bringing the total amount of financing the budget deficit, during the period to SR51.091 billion, with a SR51 billion deficit. The aforementioned sum was not used to finance the deficit until Q3, as it is earmarked to pay down the deficit, for the rest of the year.

Budget for the third quarter of 2021, revealed that income totaled SR243.381 billion against expenses that totaled SR236.697 billion, resulting in as much as SR6.7 billion  surplus.

Revenues in the nine months of the year totaled SR696.248 billion, while expenditures were at SR701.62 billion, putting the deficit at SR5.373 billion.