Saudi budget Q3 2022: government employee compensation ‎accounts for 47.2% of expenditures in 9 months.. Subsidies ‎jump 37%‎

The Ministry of Finance announced budget of the Kingdom of Saudi Arabia for the third quarter of this year, revealed that goverment employees acquired about 47.2% of Saudi budget expenditures during the first 9 months of this year to record 377.9 billion riyals, up from 369.2 billion riyals for the same period last year, an increase of 2%.

According to the report, employees’ compensation includes rewards, in cash or in kind, payable to the employee in return for work performed. In addition to wages and salaries, it includes social security contributions, which are paid by one of the general government units on behalf of its employees and excludes any compensation for employees related to their capital.

The report’s data show that there is a 32% increase in the value of goods and services consumed by the government, to record 150.6 billion riyals during the first 9 months of this year, up from 114.3 billion riyals for the same period last year.

The subsidies item recorded a significant increase of 37% to reach 19.2 billion riyals during the first 9 months of this year, up from about 14 billion riyals for the same period last year.

The total social benefits bill also increased by 10% to reach 59.7 billion riyals during the first 9 months of this year, after it recorded 54.2 billion riyals for the same period last year.