HomeReportsBureau of Economic and Business Affairs2023 Fiscal Transparency Report…Saudi Arabia hide 2023 Fiscal Transparency Report: Saudi Arabia Bureau of Economic and Business Affairs In this section Government-by-Government Assessments: Saudi Arabia Government-by-Government Assessments: Saudi Arabia During the review period, the government made significant progress by publishing its executive budget proposal within a reasonable period and made its enacted budget and end-of-year report publicly available online within a reasonable period. Information on debt obligations, including for state-owned enterprises, was publicly available online. The limited data available in the government’s annual budget statement broke down expenditures by category, but not by ministry or agency. The annual budget statement did not show allocations to the royal family and the government maintained off-budget accounts not subject to public oversight. Military and intelligence budgets were not subject to oversight by the Saudi legislative Majlis or a civilian public body. When actual revenues and expenditures did not reasonably correspond to those in the enacted budget, the government produced and publicly issued revised budget estimates. The supreme audit institution met international standards of independence and followed up on its findings, but its reports were not publicly available. The government specified in law or regulation and appeared to follow in practice the criteria and procedures for awarding natural resource extraction licenses and contracts. Basic information on natural resource extraction awards was not consistently made publicly available. The sovereign wealth fund had a sound legal framework and disclosed its source of funding and general approach to withdrawals. Saudi Arabia’s fiscal transparency would be improved by: Breaking down budget expenditures by ministry or government agency and by support to executive offices; Eliminating off-budget accounts or subjecting them to adequate oversight and audit; Subjecting military and intelligence budgets to legislative or civilian public oversight; Making audit reports of the government’s executed budget widely and easily accessible to the public within a reasonable period; and Making basic information on natural resource awards consistently available to the public. View report by: Afghanistan Algeria Angola Azerbaijan Bahrain Bangladesh Benin Burma Burundi Cambodia Cameroon Central African Republic Chad China, People’s Republic of Comoros Congo, Democratic Republic of Congo, Republic of the Djibouti Egypt Equatorial Guinea Eswatini Ethiopia Gabon The Gambia Guinea Guinea-Bissau Iraq Laos Lebanon Liberia Lesotho Libya Madagascar Malawi Mali Maldives Mauritania Mongolia Mozambique Niger Oman Pakistan Palestinian Authority Papua New Guinea Rwanda Sao Tome and Principe Saudi Arabia Senegal Sierra Leone Somalia South Africa South Sudan Sudan Tajikistan Tanzania Turkmenistan Ukraine Uzbekistan Vietnam Yemen Zambia Zimbabwe On This Page search > < Government-by-Government Assessments: Saudi Arabia Tags Bureau of Economic and Business Affairs Bureau of Near Eastern Affairs Division for International Finance and Development Saudi Arabia Back to Top