​​
​​​​​​Indebtn​ess:


As at 31 December 2015, the Government's total outstanding direct indebtedness amounted to SAR 142.2 billion (U.S.$37.9 billion), which entirely comprised domestic indebtedness and which represented 5.8 per cent. of Saudi Arabia's nominal GDP for the year ended 31 December 2015.

As at 31 December 2016, Saudi Arabia's total outstanding direct indebtedness amounted to SAR 316.6 billion (U.S.$84.4 billion), comprising SAR 213.5 billion (U.S.$56.9 billion) of domestic indebtedness and SAR 103.1 billion (U.S.$27.5 billion) of external indebtedness. 

As at 31 December 2017, Saudi Arabia's total outstanding direct indebtedness amounted to SAR 443.3 billion (U.S.$118.2 billion), comprising SAR 259.5 billion (U.S.$69.2 billion) of domestic indebtedness and SAR 183.8 billion (U.S.$49.0 billion) of external indebtedness.

As at 31 December 2018, Saudi Arabia's total outstanding direct indebtedness amounted to SAR 560.0 billion (U.S.$149.3 billion), comprising SAR 305.0 billion (U.S.$81.3 billion) of domestic indebtedness and SAR 255.0 billion (U.S.$68.0 billion) of external indebtedness. 

As at 30 December 2019, Saudi Arabia's total outstanding direct indebtedness amounted to SAR 677.9 billion (U.S.$180.8 billion), comprising SAR 372.8 billion (U.S.$99.4 billion) of domestic indebtedness and SAR 305.2 billion (U.S.$81.4 billion) of external indebtedness.

As at end of December 2020, Saudi Arabia's total outstanding direct indebtedness amounted to SAR 853.5 billion (U.S.$227.6 billion), comprising SAR 502.6 billion (U.S.$134.0 billion) of domestic indebtedness and SAR 350.9 billion (U.S.$ 93.6 billion) of external indebtedness. 

As at end of Dec 2021, Saudi Arabia's total outstanding direct indebtedness amounted to SAR 938.0 billion (U.S.$250.1 billion), comprising SAR 558.7 billion (U.S.$149.0 billion) of domestic indebtedness and SAR 379.3 billion (U.S.$ 101.1 billion) of external indebtedness. 

As at end of Dec 2022, Saudi Arabia's total outstanding direct indebtedness amounted to SAR 990.1 billion (U.S.$264 billion), comprising SAR 615 billion (U.S.$164 billion) of domestic indebtedness and SAR 375.1 billion (U.S.$ 100 billion) of external indebtedness. 

As at end of September 2023, Saudi Arabia's total outstanding direct indebtedness amounted to SAR 994.3 billion (U.S.$265.1 billion), comprising SAR 628.6 billion (U.S.$167.6 billion) of domestic indebtedness and SAR 365.6 billion (U.S.$ 97.5 billion) of external indebtedness. 


The following table sets forth the Government's total outstanding direct indebtedness (external and domestic) as of 31 December 2022, 2021, 2020, 2019, 2018, 2017, 2016, and 2015, respectively. In addition to Q3 2023​.


​​Government’s total outstanding direct indebtedness (external and domestic)
SAR billions, except percentages​
​Q3 2023
​​2022
 2021
 ​2020
 2019
  2018
 2017
 2016
 2015
Borrowed During Period
129.3(3)
​125.4 (2)
 157.9 (1) 220.0​ 120.0
 120.0
 139.1
 200.1
 98
Repaid During Period
​125.1 (3)
​73.3 (2)
 73.4 (1)
 ​44.4
 2.0
 3.3
 12.4
 25.8
 -
Indebtedness Outstanding at End of Period
​994.3
 990.1​ 938.0 ​853.5
 677.9
 560.0
 443.3
 316.6
 142.2 
Change (%)
0.4
​5.6
 9.9
 25.9​ 21.1
 26.3
 40.0
 122.5
 221.4
GDP (4) (Nominal)4,136​ 4,156​ ​3,126
 2,638​ 3,014 3,062
 2,582
 2,419
 2,454
Ratio of Public Debt to Nominal GDP (%)
24.0​​(6)​​
​25(5)
 30.0
 ​32.4
 22.5 18.3
 17.2
 13.1
 5.8

Source:  National Debt Management Center, Ministry of Finance

1.      2021 figure is including an amount of SAR 33bn related to a switch transaction executed end of 2021.

2.      2022 figure is including SAR 26 bn related to the switch transaction executed in 2022.

3.      2023 figure is including SAR 35.96 bn related to the switch transaction executed in 2023.​

4.      As per General Authority for Statistics.

5.     ​ As per the official budget statement for the fiscal year of 2023..

6.      ​ As per the official Pre-budget statement for the fiscal year of 2024..​​

Note:               

​​·  Numbers are rounded.

​

 

The following table sets forth a breakdown of the Government outstanding direct domestic borrowing (in primary local market excluding switch transactions) by creditor type, as of 31 December 2022, 2021,2020, 2019, and 2018 respectively. In addition to the 3rd Quarter of the FY 2023.​​

Local Issuances (Primary Market) (Million Saudi Riyals)
​
​Q3
2023
​2022
2021
2020
2019
​​2018
Government Institutions
6,426
17,169
​22,837
41,770
9,317
​9,115
​​​​​Local Banks
17,552
51,195​50,135
42,256
54,206
39,600
Foreign Investors
672
200​80
​81
50
-​
​Individuals
​4
​4
31​
4
8
​-
Investment Companies and Mutual Funds
674
444
2,264
602
1,905
35
​ Companies​
255
​329
624​
326
4,352
-​​
Total Issuance
​25,583​69,34175,97185,03969,83848,750

​​

Source:  National Debt Management Center

Note:               

​​·  Numbers are rounded.​