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Saudi Arabia sets record budget for 2013

Straits Times -- Saudi Arabia has set a record state budget for next year as high oil prices allow heavy spending on welfare and infrastructure projects, helping it avoid the severe social unrest seen in other parts of the Arab world.

The government plans to spend 820 billion riyals (S$ 267 billion) in 2013, Finance Minister Ibrahim Alassaf said as he presented the budget to King Abdullah on Saturday.

That amount is 19 per cent higher than the 690 billion riyals that the world's largest oil exporter budgeted for 2012. It is slightly below the estimated 853 billion riyals that the government actually spent this year, but analysts said actual spending was on track to continue climbing in 2013.


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Submitted Dec 31, 2012 By: NO_SWEAT
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Saudi Arabia sets record budget for 2013 Back to Topics
REPLIES (newest first) Post a Reply
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southrob
Champion Author Tucson

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Message Posted: Jan 1, 2013 9:40:37 AM

and we should be drilling our own oil
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1006
Champion Author Birmingham

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Message Posted: Jan 1, 2013 6:54:47 AM

it is just your opinion there is social unrest to speak
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Grizdad
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Message Posted: Jan 1, 2013 6:07:11 AM

they adopted the 6.8 SPC...
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tomok
Champion Author Portland

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Message Posted: Jan 1, 2013 2:25:39 AM

Saudi Arabia sets record budget for 2013! They have what the world wants and most countries are more than willing to Pay for it. Their budget can be very large with their vast reserves of crude oil and natural gas for sale. The US can pick at their energy demand but can't get anywhere close to be a threat of any kind.
Whatever the size or shape of the vehicle, vehicle manufactures Produce and the population ‘Drives’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
XII/XXII/MMXII! - The Day After......
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SparkieMi
Champion Author Kalamazoo

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Message Posted: Dec 31, 2012 11:35:51 PM

No surprise, with all their oil income!!!!
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Bildawg
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Message Posted: Dec 31, 2012 11:34:49 PM

Thats great
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crreed1
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Message Posted: Dec 31, 2012 11:33:12 PM

don't know
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4warned
Champion Author Michigan

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Message Posted: Dec 31, 2012 11:28:16 PM

If you have the money spend it.
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walkerms1
All-Star Author Albany

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Message Posted: Dec 31, 2012 11:26:23 PM

I wonder if their budget is at least balanced.
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danol43
Champion Author Modesto

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Message Posted: Dec 31, 2012 11:24:42 PM

Somehow I don't have confidence in the royal family to really use that money to quell social unrest.
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Quick68
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Message Posted: Dec 31, 2012 11:23:44 PM

More of our money.
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Matt G
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Message Posted: Dec 31, 2012 11:21:01 PM

With our money
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Rt118E
Champion Author Pennsylvania

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Message Posted: Dec 31, 2012 11:19:40 PM

I hope this is the year we get away from all Arab Oil
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heartbroken2010
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Message Posted: Dec 31, 2012 11:18:30 PM

feed the people, keep them happy.
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movietracker
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Message Posted: Dec 31, 2012 11:18:24 PM

Ok
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CiVX
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Message Posted: Dec 31, 2012 11:18:16 PM

Buy them off so they don't revolt.
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biza4u
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Message Posted: Dec 31, 2012 11:18:13 PM

Old news
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TIGERPAW46
Champion Author Florida

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Message Posted: Dec 31, 2012 11:17:19 PM

yep, the speculators help to keep the price up for all the oil selling countries to make more money too.
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MidNJ
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Message Posted: Dec 31, 2012 11:16:57 PM

To all, a very happy and healthy New Year and hopefully all the political BS in Washington will end soon.

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defense
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Message Posted: Dec 31, 2012 11:16:16 PM

ok
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Tigercat88
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Message Posted: Dec 31, 2012 11:15:40 PM

So What does this mean to US.
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tedjm1
Champion Author New York

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Message Posted: Dec 31, 2012 11:15:30 PM

We will se how this pans out.
Look at our lawmakers, they can do nothing.
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jkpsr
Champion Author New Jersey

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Message Posted: Dec 31, 2012 11:14:37 PM

This is why they need to get at least $90 for oil
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Bigwaynef
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Message Posted: Dec 31, 2012 11:14:05 PM

Wow, it's early...
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pa79th
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Message Posted: Dec 31, 2012 11:13:54 PM

Counting on a lot of $$$ from Uncle Sugar!
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DEG
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Message Posted: Dec 31, 2012 11:12:53 PM

Hopefully the US will become energy independent. This would put a severe crimp in Saudi Arabia's future largesse.
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Chas58
Champion Author Detroit

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Message Posted: Dec 31, 2012 11:11:06 PM

They best get ready of the new reality when our oil output is greater than theirs.
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EVBuddy
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Message Posted: Dec 31, 2012 11:10:20 PM

Older still now
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humblepie
Champion Author Toledo

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Message Posted: Dec 31, 2012 11:09:00 PM

just another welfare country like greece, spain and the usa
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UpSol7
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Message Posted: Dec 31, 2012 11:08:55 PM

Happy New Year!  
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Beboper
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Message Posted: Dec 31, 2012 11:06:22 PM

old news
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mk9999
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Message Posted: Dec 31, 2012 11:05:16 PM

With our money.
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weenerdog
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Message Posted: Dec 31, 2012 11:02:56 PM

we're paying them
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nwsynthetics
Champion Author Oregon

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Message Posted: Dec 31, 2012 11:01:47 PM

I guess they are making some good money off of us.
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cheaper0ON
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Message Posted: Dec 31, 2012 11:01:22 PM

Good for them.
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AKmailman
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Message Posted: Dec 31, 2012 10:58:57 PM

and this interest us because ?
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GordoM
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Message Posted: Dec 31, 2012 10:57:23 PM

The curse of "free" money strikes again. Whether gold (Spain's new world colonies), Oil, or even lottery winnings almost always results in poor incentives that ultimately bring poverty as soon as the flow a "free" money starts to decline.
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PoohMcGoo
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Message Posted: Dec 31, 2012 10:56:32 PM

So we're paying more at the pump so they can spend more on welfare, nice.
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sydb7
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Message Posted: Dec 31, 2012 10:55:37 PM

Even though the speculators are desperately trying to raise crude oil prices, The Saudis should not count on continued high prices!
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Bleeder
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Message Posted: Dec 31, 2012 10:51:55 PM

What will the people do when the budget shrinks again next year with the price of oil dropping? Don't get too used to the new things your short term increase in earnings has now bought.
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bigsranch
Champion Author Houston

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Message Posted: Dec 31, 2012 10:51:22 PM

The prince needs to buy off the Muslims that want to kill him.
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mstearno
Champion Author Dayton

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Message Posted: Dec 31, 2012 10:40:51 PM

who gives a rat's #@@
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ok603
Champion Author Boston

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Message Posted: Dec 31, 2012 10:37:01 PM

Keep spending
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TFowler513
Champion Author Memphis

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Message Posted: Dec 31, 2012 10:34:31 PM

Must be nice to have the money to do it!!!
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davenles
Champion Author Texas

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Message Posted: Dec 31, 2012 10:28:54 PM

So nice that they have so much of our money to spend.
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blazerbob91
Champion Author Milwaukee

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Message Posted: Dec 31, 2012 10:26:55 PM

We pay for it.
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Brucevanf
Champion Author New Brunswick

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Message Posted: Dec 31, 2012 10:24:14 PM

They have more money than they know what to do with.
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CorvairHaven
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Message Posted: Dec 31, 2012 10:23:49 PM

Bribing their own people.
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WIPACKERFAN
Champion Author Chicago

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Message Posted: Dec 31, 2012 10:23:22 PM

So what?
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drz614
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Message Posted: Dec 31, 2012 10:15:44 PM

ok
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