Strategy Note /
Saudi Arabia

Saudi 2022f budget – first surplus since 2013

  • The 2022f budget is structured to support fiscal sustainability and strengthen the fiscal position

  • In 2022f, revenues are expected to grow by 12.4% yoy to SAR1,045bn, driven by 20.0% yoy increase in other revenues

  • Real GDP is projected to grow at 7.4% in 2022f vs 2.9% in 2021e

Iyad Khalid Ghulam
Iyad Khalid Ghulam

Vice President, Senior Equity Research Analyst

SNB Capital
14 December 2021
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