Riyadh-Sana
The Saudi system authorities expected that the actual budget deficit in the Kingdom during the current year will reach 131 billion riyals, or 35 billion dollars, for the seventh consecutive year.
"The Saudi budget recorded inflation of 2 percent in 2020, compared to an expected decrease of one percent in the consumer price index for the current year," said a statement issued by the budget of the Saudi regime today, reported by Reuters.
"The actual budget deficit for the current year is expected to reach 4.7 percent of the gross domestic product, and for the next year the deficit will be 187 billion riyals, or 6.4 percent of the expected GDP," the statement added.
The authorities of the Saudi system also expected in their statement that the deficit for the year 2021 will reach five percent of GDP and that it will reach 2.9 percent in 2022.
The budget deficit of the Al Saud regime, which in 2015 amounted to about $ 87 billion, continues in light of the continuation of its aggressive war against Yemen, its support and financing of terrorist organizations in Syria, and its reckless policies in the region that have drained much of its resources, the largest of which is oil.
Saudi Arabia is the most consuming country in the world with a high spending rate and adopts the policy of importing goods and services that it finances from oil revenues.
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