.
.
.
.
Saudi Vision 2030

Saudi Arabia to use any surplus in 2022 budget to fill reserves: Al-Jadaan

Published: Updated:

Saudi Arabia’s finance minister said that any surplus in the Kingdom’s budget for 2022 will be used toward filling the reserves, Mohammed al-Jadaan told Al Arabiya during an interview.

Al-Jadaan added that there is currently no intention to transfer additional funds from the Kingdom’s central bank to the sovereign wealth fund and that he does not expect dividends from the Public Investment Fund in the coming years.

For the latest headlines, follow our Google News channel online or via the app.

The Kingdom’s Public Investment Fund (PIF) plans to invest up to 1 trillion riyals ($266.57 billion) in the domestic economy by 2025, Yasir al-Rumayyan, the sovereign wealth fund’s governor said on Monday at the forum.

Saudi Arabia said on Sunday it expected to post its first budget surplus in nearly a decade next year, as it plans to restrict public spending despite a surge in oil prices that helped to refill state coffers hammered by the pandemic.

Read more:

Saudi Arabia set to reconsider 15 percent VAT rate: Finance minister

PIF to invest up to 1 trillion riyals in Saudi Arabia by 2025

Saudi Crown Prince: 2022 budget supports post-pandemic, Vision 2030 goals

Breakdown of Saudi Arabia’s 2022 budget in numbers