The Saudi government has announced yet another record budget for 2013, prompted by bumper earnings realized last year. The 2013 budget is again expansionary underlying the government’s intention to continue with its large spending program in the aftermath of the Arab spring.
Endorsed by the Council of Ministers on 29 December 2012, the 2013 budget projects an 18% increase in total revenue to SR829bn ($221.1bn) from the previous year, a 19% rise in total expenditure to SR820bn ($218.7bn), and a resulting surplus of SR9bn ($2.4bn), compared to the budgeted surplus of SR12bn ($3.2bn) in 2012. (CONTINUED - 1301 WORDS)
