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2020 Budget Report

2020 Budget Report

A review of the 2020 budget and recent economic developments.

Dr. Hussain Abusaaq

Chief Economist and Head of Research

KPMG in Saudi Arabia


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On 9 December 2019, the government of Saudi Arabia delivered its 2020 budget. At KPMG, we have closely examined this budget, providing our analyses and insights on the prospected economic impact.

With the 2020 budget, the government reinforces its commitment to the Vision 2030 programs, including economic diversification, increasing the share of non-oil revenues and achieving fiscal balance on the government expenditures.

Most notable findings of the 2020 budget are:

  • Second year in a row budgeted spending of well over SAR one trillion. Projected non-oil revenue at 38%.
  • Despite higher public expenditures, Saudi Arabia maintains a comfortable debt position consisting of 26% GDP and a budget deficit of 6.4% GDP. 
  • Public spending on education, military and health and social development amounts to 53.1% in 2020.

Download the report in English.

Download the report in Arabic.

Please contact our Chief Economist, Dr. Hussain Abusaaq if you have any comments about our budget report.

Dr. Hussain Abusaaq
Chief Economist and Head of Research
T: + 966 (0) 553969697

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