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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  
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REPLIES (newest first) Post a Reply
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
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
Grizdad
Champion Author Montana

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Message Posted: Jan 1, 2013 6:07:11 AM

they adopted the 6.8 SPC...
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......
SparkieMi
Champion Author Kalamazoo

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

No surprise, with all their oil income!!!!
Bildawg
Champion Author Ohio

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Message Posted: Dec 31, 2012 11:34:49 PM

Thats great
crreed1
Champion Author West Virginia

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Message Posted: Dec 31, 2012 11:33:12 PM

don't know
4warned
Champion Author Michigan

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

If you have the money spend it.
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.
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.
Quick68
Champion Author Columbus

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Message Posted: Dec 31, 2012 11:23:44 PM

More of our money.
Matt G
Champion Author Boston

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Message Posted: Dec 31, 2012 11:21:01 PM

With our money
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
heartbroken2010
Champion Author Ottawa

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Message Posted: Dec 31, 2012 11:18:30 PM

feed the people, keep them happy.
movietracker
All-Star Author Pennsylvania

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Message Posted: Dec 31, 2012 11:18:24 PM

Ok
CiVX
Champion Author Oakland

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

Buy them off so they don't revolt.
biza4u
Champion Author New Haven

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Message Posted: Dec 31, 2012 11:18:13 PM

Old news
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.
MidNJ
Champion Author New Jersey

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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.

defense
Champion Author Grand Rapids

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

ok
Tigercat88
Champion Author North Carolina

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

So What does this mean to US.
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.
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
Bigwaynef
Champion Author South Carolina

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Message Posted: Dec 31, 2012 11:14:05 PM

Wow, it's early...
pa79th
Champion Author Pennsylvania

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Message Posted: Dec 31, 2012 11:13:54 PM

Counting on a lot of $$$ from Uncle Sugar!
DEG
Champion Author Las Vegas

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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.
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.
EVBuddy
Champion Author Nevada

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Message Posted: Dec 31, 2012 11:10:20 PM

Older still now
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
UpSol7
Champion Author Augusta

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Message Posted: Dec 31, 2012 11:08:55 PM

Happy New Year!  
Beboper
Champion Author Virginia

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Message Posted: Dec 31, 2012 11:06:22 PM

old news
mk9999
Champion Author Rochester

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Message Posted: Dec 31, 2012 11:05:16 PM

With our money.
weenerdog
Champion Author Detroit

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Message Posted: Dec 31, 2012 11:02:56 PM

we're paying them
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.
cheaper0ON
Champion Author Ontario

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Message Posted: Dec 31, 2012 11:01:22 PM

Good for them.
AKmailman
Champion Author Alaska

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Message Posted: Dec 31, 2012 10:58:57 PM

and this interest us because ?
GordoM
Champion Author Detroit

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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.
PoohMcGoo
Champion Author Alabama

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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.
sydb7
Champion Author Atlanta

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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!
Bleeder
Champion Author Virginia

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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.
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.
mstearno
Champion Author Dayton

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

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

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

Keep spending
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!!!
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.
blazerbob91
Champion Author Milwaukee

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

We pay for it.
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.
CorvairHaven
Champion Author Cleveland

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Message Posted: Dec 31, 2012 10:23:49 PM

Bribing their own people.
WIPACKERFAN
Champion Author Chicago

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

So what?
drz614
Champion Author Harrisburg

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Message Posted: Dec 31, 2012 10:15:44 PM

ok
Lukus
Champion Author Halifax

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Message Posted: Dec 31, 2012 10:07:51 PM

ok
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