Kingdom's 2023 budget reflects focus on citizen services first

Amlak-Private

The Kingdom's 2023 budget allocated about 3.8 billion to support housing, while the state will bear 6.7 billion riyals real estate transaction tax for the first home of the citizen, and the budget, announced by Finance Minister Mohammed Al-Jadaan, focused on basic citizen services, for which 111 billion riyals were allocated, and the total expected spending on sectors amounted to 1,114 billion riyals and revenues 1,130 billion riyals.

The budget, announced by Finance Minister Mohammed Al-Jadaan, focused on basic citizen services. On this occasion, the Minister of Municipal and Rural Affairs and Housing Mr. Majid Al-Hogail extended his sincere congratulations to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister - may God protect them - on the occasion of the announcement of the State General Budget for the fiscal year 1444/1445 H (2023 AD).

Minister of Municipal and Rural Affairs and Housing, Mr. Majid Al-Hogail said. <For his part, Minister of Finance Mohammed Al-Jadaan explained the achievements of Saudi budget in 2022 came as a result of continuous work in previous years, and said, “Our overall expectations for next year remain conservative, and proactive government intervention enabled us to control inflation.” His Excellency emphasized that the Kingdom once again proves the strength and durability of the Saudi economy, which contributed to the sustainability and stability of the state's general budget, noting that the Kingdom was able, thanks to God, to achieve a fiscal surplus, reflecting the success of the economic reforms adopted by the wise leadership.

The Kingdom's fiscal surplus reflects the success of the economic reforms adopted by the wise leadership.

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111 billion riyals spent on citizen services in 9 months

21.7 billion riyals for the citizen account.

SAR 3.8 billion for housing subsidies.

SAR 5.9 billion for the Balance Account.

25.0 billion riyals for Social Security.

25.0 billion riyals for Social Security. 22.6 billion riyals to stabilize the domestic gasoline price ceiling.

<SAR 4.0 billion to support people with special needs. 6.7 billion riyals to bear the state's real estate transaction tax.

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Budget 2023

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Revenues: 1,130 billion riyals.

Expenditure: 1,114 billion riyals.

Surplus: SR16 billion.

Surplus.

Public debt: 951 billion riyals.

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Budget 2022

Revenues: 1,234 billion riyals.

Expenditure: 1,132 billion riyals.

Surplus: SR102 billion.

Surplus.

Public debt: 985 billion riyals.

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Kingdom's 2023 budget

<378 billion riyals: Education and health sectors.

<63 billion riyals: Municipal services.

34 billion riyals: Basic equipment and transportation.