Saudi finance ministry completes $266.4bn payment orders in 2020

Saudi finance ministry completes $266.4bn payment orders in 2020
Expenditure for the public sector amounted to SR 764.6 billion. (Argaam)
Short Url
Updated 01 February 2021

Saudi finance ministry completes $266.4bn payment orders in 2020

Saudi finance ministry completes $266.4bn payment orders in 2020

The Ministry of Finance (MoF) finalized the disbursement procedures for all payment orders received from the public and private sector with a total value of SR 1.02 trillion ($266.4 billion) in 2020, according to a ministerial statement.

Expenditure for the public sector amounted to SR 764.6 billion, while the same for the private sector reached SR 251.8 billion.

MoF clarified that 73 percent (or SR 183.8 billion) of the private sector’s total expenditures was disbursed within 15 days of receiving payment orders; 19% (or SR 49.2 billion) was disbursed within 30 days; and 7 percent (or SR 16 billion) was disbursed within 45 days.

The remaining 1 percent (or SR 2.8 billion) of payment orders was disbursed after 45 days due to their suspension according to judicial rulings or seized by statutory decisions.