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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

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southrob Champion Author Tucson Posts:3,595 Points:687,200 Joined:Mar 2011	Message Posted: Jan 1, 2013 9:40:37 AM Ignore southrob Report Abuse and we should be drilling our own oil
1006 Champion Author Birmingham Posts:1,105 Points:1,354,440 Joined:Apr 2008	Message Posted: Jan 1, 2013 6:54:47 AM Ignore 1006 Report Abuse it is just your opinion there is social unrest to speak
Grizdad Champion Author San Bernardino Posts:5,525 Points:783,050 Joined:Oct 2010	Message Posted: Jan 1, 2013 6:07:11 AM Ignore Grizdad Report Abuse they adopted the 6.8 SPC...
tomok Champion Author Portland Posts:33,000 Points:2,345,510 Joined:Aug 2006	Message Posted: Jan 1, 2013 2:25:39 AM Ignore tomok Report Abuse 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 Posts:3,258 Points:588,325 Joined:Sep 2011	Message Posted: Dec 31, 2012 11:35:51 PM Ignore SparkieMi Report Abuse No surprise, with all their oil income!!!!
Bildawg Champion Author Ohio Posts:1,066 Points:481,720 Joined:Oct 2011	Message Posted: Dec 31, 2012 11:34:49 PM Ignore Bildawg Report Abuse Thats great
crreed1 Champion Author West Virginia Posts:1,985 Points:2,526,335 Joined:May 2005	Message Posted: Dec 31, 2012 11:33:12 PM Ignore crreed1 Report Abuse don't know
4warned Champion Author Michigan Posts:5,814 Points:2,162,960 Joined:Nov 2006	Message Posted: Dec 31, 2012 11:28:16 PM Ignore 4warned Report Abuse If you have the money spend it.
walkerms1 All-Star Author Albany Posts:960 Points:159,900 Joined:Sep 2012	Message Posted: Dec 31, 2012 11:26:23 PM Ignore walkerms1 Report Abuse I wonder if their budget is at least balanced.
danol43 Champion Author Modesto Posts:1,697 Points:588,180 Joined:May 2011	Message Posted: Dec 31, 2012 11:24:42 PM Ignore danol43 Report Abuse Somehow I don't have confidence in the royal family to really use that money to quell social unrest.
Quick68 Champion Author Columbus Posts:8,223 Points:1,225,800 Joined:Dec 2009	Message Posted: Dec 31, 2012 11:23:44 PM Ignore Quick68 Report Abuse More of our money.
Matt G Champion Author Boston Posts:4,533 Points:2,773,040 Joined:Jun 2004	Message Posted: Dec 31, 2012 11:21:01 PM Ignore Matt G Report Abuse With our money
Rt118E Champion Author Pennsylvania Posts:9,486 Points:1,368,270 Joined:Jun 2009	Message Posted: Dec 31, 2012 11:19:40 PM Ignore Rt118E Report Abuse I hope this is the year we get away from all Arab Oil
heartbroken2010 Champion Author Ottawa Posts:4,344 Points:897,535 Joined:Aug 2010	Message Posted: Dec 31, 2012 11:18:30 PM Ignore heartbroken2010 Report Abuse feed the people, keep them happy.
movietracker All-Star Author Pennsylvania Posts:695 Points:162,390 Joined:Mar 2011	Message Posted: Dec 31, 2012 11:18:24 PM Ignore movietracker Report Abuse Ok
CiVX Champion Author Oakland Posts:7,055 Points:1,359,610 Joined:Feb 2009	Message Posted: Dec 31, 2012 11:18:16 PM Ignore CiVX Report Abuse Buy them off so they don't revolt.
biza4u Champion Author New Haven Posts:8,523 Points:1,627,900 Joined:Jan 2007	Message Posted: Dec 31, 2012 11:18:13 PM Ignore biza4u Report Abuse Old news
TIGERPAW46 Champion Author Florida Posts:7,126 Points:1,355,680 Joined:Mar 2004	Message Posted: Dec 31, 2012 11:17:19 PM Ignore TIGERPAW46 Report Abuse 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 Posts:7,554 Points:1,172,595 Joined:Sep 2009	Message Posted: Dec 31, 2012 11:16:57 PM Ignore MidNJ Report Abuse 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 Posts:1,370 Points:1,367,500 Joined:May 2004	Message Posted: Dec 31, 2012 11:16:16 PM Ignore defense Report Abuse ok
Tigercat88 Champion Author North Carolina Posts:3,197 Points:616,865 Joined:Jul 2011	Message Posted: Dec 31, 2012 11:15:40 PM Ignore Tigercat88 Report Abuse So What does this mean to US.
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Dec 31, 2012 11:15:30 PM Ignore tedjm1 Report Abuse We will se how this pans out. Look at our lawmakers, they can do nothing.
jkpsr Champion Author New Jersey Posts:4,079 Points:1,101,905 Joined:Jun 2005	Message Posted: Dec 31, 2012 11:14:37 PM Ignore jkpsr Report Abuse This is why they need to get at least $90 for oil
Bigwaynef Champion Author South Carolina Posts:11,472 Points:2,080,760 Joined:Dec 2006	Message Posted: Dec 31, 2012 11:14:05 PM Ignore Bigwaynef Report Abuse Wow, it's early...
pa79th Champion Author Pennsylvania Posts:1,777 Points:1,215,900 Joined:Jun 2007	Message Posted: Dec 31, 2012 11:13:54 PM Ignore pa79th Report Abuse Counting on a lot of $$$ from Uncle Sugar!
DEG Champion Author Las Vegas Posts:17,620 Points:3,494,705 Joined:Jul 2003	Message Posted: Dec 31, 2012 11:12:53 PM Ignore DEG Report Abuse Hopefully the US will become energy independent. This would put a severe crimp in Saudi Arabia's future largesse.
Chas58 All-Star Author Detroit Posts:966 Points:284,405 Joined:Mar 2011	Message Posted: Dec 31, 2012 11:11:06 PM Ignore Chas58 Report Abuse They best get ready of the new reality when our oil output is greater than theirs.
EVBuddy Champion Author Nevada Posts:16,685 Points:3,030,620 Joined:Sep 2004	Message Posted: Dec 31, 2012 11:10:20 PM Ignore EVBuddy Report Abuse Older still now
humblepie Champion Author Toledo Posts:34,199 Points:2,371,370 Joined:Mar 2006	Message Posted: Dec 31, 2012 11:09:00 PM Ignore humblepie Report Abuse just another welfare country like greece, spain and the usa
UpSol7 Champion Author Augusta Posts:1,654 Points:758,875 Joined:Sep 2008	Message Posted: Dec 31, 2012 11:08:55 PM Ignore UpSol7 Report Abuse Happy New Year!
Beboper Champion Author Virginia Posts:8,727 Points:2,163,790 Joined:Oct 2005	Message Posted: Dec 31, 2012 11:06:22 PM Ignore Beboper Report Abuse old news
mk9999 Champion Author Rochester Posts:7,915 Points:1,673,845 Joined:Aug 2008	Message Posted: Dec 31, 2012 11:05:16 PM Ignore mk9999 Report Abuse With our money.
weenerdog Champion Author Detroit Posts:9,456 Points:1,883,915 Joined:Jan 2008	Message Posted: Dec 31, 2012 11:02:56 PM Ignore weenerdog Report Abuse we're paying them
nwsynthetics Champion Author Oregon Posts:1,014 Points:345,675 Joined:Dec 2011	Message Posted: Dec 31, 2012 11:01:47 PM Ignore nwsynthetics Report Abuse I guess they are making some good money off of us.
cheaper0ON All-Star Author Ontario Posts:978 Points:397,680 Joined:Jan 2012	Message Posted: Dec 31, 2012 11:01:22 PM Ignore cheaper0ON Report Abuse Good for them.
AKmailman Champion Author Alaska Posts:5,633 Points:1,557,565 Joined:Jul 2004	Message Posted: Dec 31, 2012 10:58:57 PM Ignore AKmailman Report Abuse and this interest us because ?
GordoM Champion Author Detroit Posts:1,004 Points:993,890 Joined:Nov 2006	Message Posted: Dec 31, 2012 10:57:23 PM Ignore GordoM Report Abuse 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 Posts:3,067 Points:800,585 Joined:Dec 2010	Message Posted: Dec 31, 2012 10:56:32 PM Ignore PoohMcGoo Report Abuse So we're paying more at the pump so they can spend more on welfare, nice.
sydb7 Champion Author Atlanta Posts:3,557 Points:1,919,755 Joined:Mar 2003	Message Posted: Dec 31, 2012 10:55:37 PM Ignore sydb7 Report Abuse 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 Posts:8,038 Points:1,699,625 Joined:Jan 2008	Message Posted: Dec 31, 2012 10:51:55 PM Ignore Bleeder Report Abuse 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 Posts:3,141 Points:1,004,505 Joined:Apr 2007	Message Posted: Dec 31, 2012 10:51:22 PM Ignore bigsranch Report Abuse The prince needs to buy off the Muslims that want to kill him.
mstearno Champion Author Dayton Posts:8,066 Points:1,731,235 Joined:Jan 2008	Message Posted: Dec 31, 2012 10:40:51 PM Ignore mstearno Report Abuse who gives a rat's #@@
ok603 All-Star Author Boston Posts:945 Points:564,550 Joined:Sep 2005	Message Posted: Dec 31, 2012 10:37:01 PM Ignore ok603 Report Abuse Keep spending
TFowler513 Champion Author Memphis Posts:3,824 Points:1,413,110 Joined:Mar 2008	Message Posted: Dec 31, 2012 10:34:31 PM Ignore TFowler513 Report Abuse Must be nice to have the money to do it!!!
davenles Champion Author Texas Posts:3,196 Points:718,210 Joined:May 2011	Message Posted: Dec 31, 2012 10:28:54 PM Ignore davenles Report Abuse So nice that they have so much of our money to spend.
blazerbob91 Champion Author Milwaukee Posts:6,140 Points:1,882,695 Joined:Aug 2005	Message Posted: Dec 31, 2012 10:26:55 PM Ignore blazerbob91 Report Abuse We pay for it.
Brucevanf Champion Author New Brunswick Posts:1,356 Points:244,285 Joined:Aug 2012	Message Posted: Dec 31, 2012 10:24:14 PM Ignore Brucevanf Report Abuse They have more money than they know what to do with.
CorvairHaven Champion Author Cleveland Posts:4,349 Points:1,452,965 Joined:Sep 2008	Message Posted: Dec 31, 2012 10:23:49 PM Ignore CorvairHaven Report Abuse Bribing their own people.
WIPACKERFAN Champion Author Chicago Posts:8,804 Points:1,843,450 Joined:Aug 2005	Message Posted: Dec 31, 2012 10:23:22 PM Ignore WIPACKERFAN Report Abuse So what?
drz614 Champion Author Harrisburg Posts:2,300 Points:597,690 Joined:Aug 2011	Message Posted: Dec 31, 2012 10:15:44 PM Ignore drz614 Report Abuse ok