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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:3,585 Points:686,025 Joined:Mar 2011	Message Posted: Jan 1, 2013 8:40:37 AM Ignore southrob Report Abuse and we should be drilling our own oil
1006 Champion Author Birmingham Posts:1,105 Points:1,352,565 Joined:Apr 2008	Message Posted: Jan 1, 2013 5:54:47 AM Ignore 1006 Report Abuse it is just your opinion there is social unrest to speak
Grizdad Champion Author San Bernardino Posts:5,520 Points:781,525 Joined:Oct 2010	Message Posted: Jan 1, 2013 5:07:11 AM Ignore Grizdad Report Abuse they adopted the 6.8 SPC...
tomok Champion Author Portland Posts:32,936 Points:2,342,585 Joined:Aug 2006	Message Posted: Jan 1, 2013 1:25:39 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:3,248 Points:585,400 Joined:Sep 2011	Message Posted: Dec 31, 2012 10:35:51 PM Ignore SparkieMi Report Abuse No surprise, with all their oil income!!!!
Bildawg Champion Author Ohio Posts:1,066 Points:479,470 Joined:Oct 2011	Message Posted: Dec 31, 2012 10:34:49 PM Ignore Bildawg Report Abuse Thats great
crreed1 Champion Author West Virginia Posts:1,970 Points:2,524,185 Joined:May 2005	Message Posted: Dec 31, 2012 10:33:12 PM Ignore crreed1 Report Abuse don't know
4warned Champion Author Michigan Posts:5,814 Points:2,160,335 Joined:Nov 2006	Message Posted: Dec 31, 2012 10:28:16 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 10:26:23 PM Ignore walkerms1 Report Abuse I wonder if their budget is at least balanced.
danol43 Champion Author Modesto Posts:1,697 Points:586,680 Joined:May 2011	Message Posted: Dec 31, 2012 10:24:42 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:8,183 Points:1,222,875 Joined:Dec 2009	Message Posted: Dec 31, 2012 10:23:44 PM Ignore Quick68 Report Abuse More of our money.
Matt G Champion Author Boston Posts:4,518 Points:2,770,115 Joined:Jun 2004	Message Posted: Dec 31, 2012 10:21:01 PM Ignore Matt G Report Abuse With our money
Rt118E Champion Author Pennsylvania Posts:9,476 Points:1,366,320 Joined:Jun 2009	Message Posted: Dec 31, 2012 10:19:40 PM Ignore Rt118E Report Abuse I hope this is the year we get away from all Arab Oil
heartbroken2010 Champion Author Ottawa Posts:4,329 Points:894,610 Joined:Aug 2010	Message Posted: Dec 31, 2012 10:18:30 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 10:18:24 PM Ignore movietracker Report Abuse Ok
CiVX Champion Author Oakland Posts:7,050 Points:1,357,860 Joined:Feb 2009	Message Posted: Dec 31, 2012 10:18:16 PM Ignore CiVX Report Abuse Buy them off so they don't revolt.
biza4u Champion Author New Haven Posts:8,508 Points:1,624,975 Joined:Jan 2007	Message Posted: Dec 31, 2012 10:18:13 PM Ignore biza4u Report Abuse Old news
TIGERPAW46 Champion Author Florida Posts:7,115 Points:1,352,880 Joined:Mar 2004	Message Posted: Dec 31, 2012 10:17:19 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:7,541 Points:1,170,760 Joined:Sep 2009	Message Posted: Dec 31, 2012 10:16:57 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:1,355 Points:1,364,575 Joined:May 2004	Message Posted: Dec 31, 2012 10:16:16 PM Ignore defense Report Abuse ok
Tigercat88 Champion Author North Carolina Posts:3,182 Points:613,940 Joined:Jul 2011	Message Posted: Dec 31, 2012 10:15:40 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 10:15:30 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:4,069 Points:1,099,855 Joined:Jun 2005	Message Posted: Dec 31, 2012 10:14:37 PM Ignore jkpsr Report Abuse This is why they need to get at least $90 for oil
Bigwaynef Champion Author South Carolina Posts:11,451 Points:2,077,835 Joined:Dec 2006	Message Posted: Dec 31, 2012 10:14:05 PM Ignore Bigwaynef Report Abuse Wow, it's early...
pa79th Champion Author Pennsylvania Posts:1,767 Points:1,213,925 Joined:Jun 2007	Message Posted: Dec 31, 2012 10:13:54 PM Ignore pa79th Report Abuse Counting on a lot of $$$ from Uncle Sugar!
DEG Champion Author Las Vegas Posts:17,610 Points:3,492,755 Joined:Jul 2003	Message Posted: Dec 31, 2012 10:12:53 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:953 Points:282,270 Joined:Mar 2011	Message Posted: Dec 31, 2012 10:11:06 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:16,675 Points:3,028,670 Joined:Sep 2004	Message Posted: Dec 31, 2012 10:10:20 PM Ignore EVBuddy Report Abuse Older still now
humblepie Champion Author Toledo Posts:34,101 Points:2,368,445 Joined:Mar 2006	Message Posted: Dec 31, 2012 10:09:00 PM Ignore humblepie Report Abuse just another welfare country like greece, spain and the usa
UpSol7 Champion Author Augusta Posts:1,641 Points:756,885 Joined:Sep 2008	Message Posted: Dec 31, 2012 10:08:55 PM Ignore UpSol7 Report Abuse Happy New Year!
Beboper Champion Author Virginia Posts:8,712 Points:2,160,865 Joined:Oct 2005	Message Posted: Dec 31, 2012 10:06:22 PM Ignore Beboper Report Abuse old news
mk9999 Champion Author Rochester Posts:7,900 Points:1,670,920 Joined:Aug 2008	Message Posted: Dec 31, 2012 10:05:16 PM Ignore mk9999 Report Abuse With our money.
weenerdog Champion Author Detroit Posts:9,446 Points:1,881,965 Joined:Jan 2008	Message Posted: Dec 31, 2012 10:02:56 PM Ignore weenerdog Report Abuse we're paying them
nwsynthetics Champion Author Oregon Posts:1,014 Points:344,475 Joined:Dec 2011	Message Posted: Dec 31, 2012 10:01:47 PM Ignore nwsynthetics Report Abuse I guess they are making some good money off of us.
cheaper0ON All-Star Author Ontario Posts:968 Points:395,130 Joined:Jan 2012	Message Posted: Dec 31, 2012 10:01:22 PM Ignore cheaper0ON Report Abuse Good for them.
AKmailman Champion Author Alaska Posts:5,618 Points:1,555,390 Joined:Jul 2004	Message Posted: Dec 31, 2012 9:58:57 PM Ignore AKmailman Report Abuse and this interest us because ?
GordoM All-Star Author Detroit Posts:998 Points:992,020 Joined:Nov 2006	Message Posted: Dec 31, 2012 9:57:23 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:798,335 Joined:Dec 2010	Message Posted: Dec 31, 2012 9:56:32 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:3,547 Points:1,917,055 Joined:Mar 2003	Message Posted: Dec 31, 2012 9:55:37 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:1,698,125 Joined:Jan 2008	Message Posted: Dec 31, 2012 9:51:55 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:3,131 Points:1,002,555 Joined:Apr 2007	Message Posted: Dec 31, 2012 9:51:22 PM Ignore bigsranch Report Abuse The prince needs to buy off the Muslims that want to kill him.
mstearno Champion Author Dayton Posts:8,055 Points:1,729,380 Joined:Jan 2008	Message Posted: Dec 31, 2012 9:40:51 PM Ignore mstearno Report Abuse who gives a rat's #@@
ok603 All-Star Author Boston Posts:945 Points:562,600 Joined:Sep 2005	Message Posted: Dec 31, 2012 9:37:01 PM Ignore ok603 Report Abuse Keep spending
TFowler513 Champion Author Memphis Posts:3,824 Points:1,411,485 Joined:Mar 2008	Message Posted: Dec 31, 2012 9:34:31 PM Ignore TFowler513 Report Abuse Must be nice to have the money to do it!!!
davenles Champion Author Texas Posts:3,186 Points:715,960 Joined:May 2011	Message Posted: Dec 31, 2012 9:28:54 PM Ignore davenles Report Abuse So nice that they have so much of our money to spend.
blazerbob91 Champion Author Milwaukee Posts:6,130 Points:1,880,745 Joined:Aug 2005	Message Posted: Dec 31, 2012 9:26:55 PM Ignore blazerbob91 Report Abuse We pay for it.
Brucevanf Champion Author New Brunswick Posts:1,341 Points:241,360 Joined:Aug 2012	Message Posted: Dec 31, 2012 9:24:14 PM Ignore Brucevanf Report Abuse They have more money than they know what to do with.
CorvairHaven Champion Author Cleveland Posts:4,344 Points:1,451,140 Joined:Sep 2008	Message Posted: Dec 31, 2012 9:23:49 PM Ignore CorvairHaven Report Abuse Bribing their own people.
WIPACKERFAN Champion Author Chicago Posts:8,789 Points:1,840,525 Joined:Aug 2005	Message Posted: Dec 31, 2012 9:23:22 PM Ignore WIPACKERFAN Report Abuse So what?
drz614 Champion Author Harrisburg Posts:2,289 Points:595,670 Joined:Aug 2011	Message Posted: Dec 31, 2012 9:15:44 PM Ignore drz614 Report Abuse ok