Saudi Arabia is noted for recording substantial budgetary surpluses. The surplus in the current fiscal year surpassed $100 billion level, a record not just for the kingdom exceptional by global standards.
Continuing a traditional practice, the budget for 2013 is conservative on both spending and income. However, if 2012 and 2011 could serve as guides, final figures would be notably different from the projected ones.
To be sure, projected revenues and expenditures for fiscal year 2013 are lower than those of 2012. For 2013, revenues and expenditures are projected at $221 billion and expenditures at $219 billion, thereby leaving shortage of $8 billion.
Exceptional Saudi fiscal systems | GulfNews.com
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