Saudi Arabia to boost 2019 state budget spending to 1.1 trillion riyals

Figures pertaining to Saudi Arabia’s 2019 budget revealed a record spending worth 1.106 trillion Saudi riyals which is a 7.3 percent growth rate compared to 2018.

According to figures announced by the Saudi Ministry of Finance, the expected revenues in 2019 are estimated at 975 billion riyals with a nine percent growth rate compared to 2018.

The Ministry of Finance expects deficit to decline by 4.2 percent in 2019 hence reaching 131 billion riyals while public debt will reach 678 billion riyals and constitute 21.7 percent of the Gross Domestic Product (GDP).

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