The Ministry of Finance is pleased to highlight the actual outcome of fiscal years 1434/1435 (2013) & 1435/1436 (2014) budget, and recent economic developments in the Kingdom of Saudi Arabia, a press release issued here today stated. The Press release is as follows: The Ministry of Finance is pleased to highlight the actual outcome of Fiscal Year (FY) 1434/1435 (2013), the 1435/1436 (2014) budget, and recent economic developments in the Kingdom of Saudi Arabia. Actual Outcome of Fiscal Year 1434/1435 (2013) Total revenue is projected to be around SR 1,131 (US $301.6) billions in 2013 and expenditure to be around SR 925 (US $246.7) billions. As a result, a surplus of SR 206 (US $54.9) billions should be realized. The increase of actual over budgeted expenditures of around SR 105 (US $28) billions is due to additional expenditures on projects in the Two Holy Mosques and other development and service projects, especially transportation, housing, and education. Preliminary estimates indicate that the public debt will decline from around SR 98.8 (US $26.3) billions at the end of 2012 to around SR 75.1 (US $20) billions at the end of 2013, representing less than (2.7) percent of projected GDP for 2013. The number of government projects signed with the private sector in 2013 amounted to 2,330 with a total value of around SR 157 (US $41.9) billions. The National Budget for 1435/1436 (2014) The followings are the main highlights of the budget: 1.Total revenues is estimated at SR 855 (US $ 228) billions. 2.Government expenditures is budgeted at SR 855 (US $ 228) billions. Budget appropriations will continue to focus on investment programs that enhance long-term strong and sustainable economic development and employment opportunities for Saudi nationals. Specifically, the focus will be on infrastructure, education, health, social services, security services, municipal services, water and water treatment services, roads and highways. Moreover, the budget attaches particular emphasis on science and technology projects and e-government. --More 16:58 LOCAL TIME 13:58 GMT تغريد
