The Ministry of Finance today issued a press release highlighting recent economic developments and highlights of fiscal years 1435/1436 (2014) & 1436/1437 (2015). Following is the above mentioned press release: Press Release Recent Economic Developments and Highlights of Fiscal Years 1435/1436 (2014) & 1436/1437 (2015) 25 December 2014 The Ministry of Finance is pleased to highlight the actual outcomes of Fiscal Year (FY) 1435/1436 (2014), the 1436/1437 (2015) budget, and recent economic developments in the Kingdom of Saudi Arabia. Actual Outcomes of Fiscal Year 1435/1436 (2014) Total revenue is estimated at SR 1,046 (US $278.9) billion in FY 1435/1436 (2014( and total expenditure at around SR 1,100 (US $293.3) billion, with an estimated deficit of SR 54 (US $14.4) billion. The increase of actual over budgeted expenditures of SR 245 (US $65.3) billion (28.7%) is due to additional spending on the Two Holy Mosques and other development and service projects as well as international aid. Preliminary estimates indicate that public debt will decline from SR 60.1 (US $16) billion at the end of 2013 to SR 44.3 (US $11.8) billion at the end of FY 1435/1436 (2014(, which is about (1.6) percent of GDP for 1435/1436 (2014(. The number of government projects' contracts that have been signed with the private sector in FY 1435/1436 (2014( is (2,572 contracts), totaling SR 184 (US $49) billion. --More 15:18 LOCAL TIME 12:18 GMT تغريد
