BREAKING NEWS | Saudi Budget 2021: Revenues Estimated At 849 Billion Riyals, Spending At 990 Billion Riyals

RIYADH – – Saudi Arabia has announced its budget for 2021, with revenues estimated at 849 billion riyals for the coming year.

Saudi Arabia’s King Salman confirmed that approved expenditures in the Kingdom’s budget for 2021 will amount at 990 billion riyals, and an estimated deficit of 141 billion riyals, representing 49 percent of the GDP.

‘We have directed that the budget give priority to protecting the health and safety of citizens and residents, and to continue efforts of the pandemic on our economy’ says Saudi Arabia’s King Salman while announcing the budget.

‘We have also directed the continuation of work to stimulate economic growth, develop services, support the private sector and preserve the jobs of citizens in it, and implement housing programs and projects, and development projects that provide more jobs opportunities for citizens’, he added.

Last September, the Kingdom’s Finance Ministry announced a preliminary statement of the estimated budget for 2021, with public revenues estimated at 846 billion riyals, and expenditures at 990 billion riyals.

Saudi Arabia said at the time it plans to cut spending by 7.5 percent in next year’s budget to 990 billion riyals ($263.94 billion) but expects the economy to return to growth as its management of the coronavirus crisis improves, a preliminary budget statement showed. 

Saudi Energy Minister Sees Demand From Gas – To – Oil Switch At Up To 600,000 BPD

LONDON – Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman said users switching from gas to oil could account for demand of 500,000 – 600,000 barrels per day (bpd), adding that the world was now waking up to shortages in the energy sector. Prince Andulaziz said the potential switch depended on how severe winter … More Saudi Energy Minister Sees Demand From Gas – To – Oil Switch At Up To 600,000 BPD

Riyadh Winter Wonderland Back In Saudi Arabia, 40 Pct Larger Than Previous Season

RIYADH, Saudi Arabia –  Riyadh Winter Wonderland is set to make a comeback in Saudi Arabia’s capital with 40 percent more space during Riyadh Season, with added games, activities, and shows for all age groups. Starting October 26 and lasting until the end of March 2022, Winter Wonderland will include more than 103 games and six areas: Dreamland Carnival, … More Riyadh Winter Wonderland Back In Saudi Arabia, 40 Pct Larger Than Previous Season

Saudi Arabia Advises Citizens Not To Travel To Lebanon – Ministry

PARIS, France – Saudi Arabia has advised its citizens not to travel to Lebanon in light of the latest security events, the foreign ministry wrote on Twitter on Sunday. Lebanon remains on  a Saudi travel list where obtaining prior permission to visit is required. On Thursday, seven people were killed in violence in Beirut  as crowd … More Saudi Arabia Advises Citizens Not To Travel To Lebanon – Ministry

Saudi Arabia’s Crown Prince Launches Strategic Offices For Al – Baha, Al – Jouf, Jazan

JEDDAH, Saudi Arabia – Saudi Arabia’s Crown Prince Mohammed bin Salman announced on Sunday the launch of the strategic offices for the development of al – Baha, al – Jouf, and Jazan regions. According to the Saudi Press Agency (SPA), these offices aim to capitalize on the unique competitive advantages each of the three regions … More Saudi Arabia’s Crown Prince Launches Strategic Offices For Al – Baha, Al – Jouf, Jazan

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