Saudi: 955 billion riyal budget for 2022 announced

Saudi Arabia approved on Sunday its 2022 national budget which expects revenues to reach 1.045 trillion riyals and a total expenditure of 955 billion riyals.

Saudi Arabia will tap debt markets next year mainly to refinance maturing debt.

The Kingdom expects 7.4 per cent economic growth in 2022, according to its budget document, a rapid recovery from this year when growth was hampered by the Covid-19 pandemic. The economy is projected to grow at 2.9 per cent in 2021.

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