Not Logged In Log In   Sign Up   Points Leaders
Follow Us    6:30 AM

GasBuddy News Article

45
votes
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.


Read the Full Article

Submitted Dec 31, 2012 By: NO_SWEAT
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Saudi Arabia sets record budget for 2013 Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
southrob
Champion Author Tucson

Posts:6,036
Points:1,309,525
Joined:Mar 2011
Message Posted: Jan 1, 2013 10:40:37 AM

and we should be drilling our own oil
Profile Pic
1006
Champion Author Birmingham

Posts:1,207
Points:1,878,580
Joined:Apr 2008
Message Posted: Jan 1, 2013 7:54:47 AM

it is just your opinion there is social unrest to speak
Profile Pic
Grizdad
Champion Author Montana

Posts:8,452
Points:1,241,105
Joined:Oct 2010
Message Posted: Jan 1, 2013 7:07:11 AM

they adopted the 6.8 SPC...
Profile Pic
tomok
Champion Author Portland

Posts:44,877
Points:3,032,335
Joined:Aug 2006
Message Posted: Jan 1, 2013 3:25:39 AM

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......
Profile Pic
SparkieMi
Champion Author Kalamazoo

Posts:5,979
Points:1,254,360
Joined:Sep 2011
Message Posted: Jan 1, 2013 12:35:51 AM

No surprise, with all their oil income!!!!
Profile Pic
Bildawg
Champion Author Ohio

Posts:1,339
Points:1,041,730
Joined:Oct 2011
Message Posted: Jan 1, 2013 12:34:49 AM

Thats great
Profile Pic
crreed1
Champion Author West Virginia

Posts:4,649
Points:3,126,495
Joined:May 2005
Message Posted: Jan 1, 2013 12:33:12 AM

don't know
Profile Pic
4warned
Champion Author Michigan

Posts:5,891
Points:2,791,025
Joined:Nov 2006
Message Posted: Jan 1, 2013 12:28:16 AM

If you have the money spend it.
Profile Pic
walkerms1
All-Star Author Albany

Posts:960
Points:159,900
Joined:Sep 2012
Message Posted: Jan 1, 2013 12:26:23 AM

I wonder if their budget is at least balanced.
Profile Pic
danol43
Champion Author Modesto

Posts:2,770
Points:1,115,550
Joined:May 2011
Message Posted: Jan 1, 2013 12:24:42 AM

Somehow I don't have confidence in the royal family to really use that money to quell social unrest.
Profile Pic
Quick68
Champion Author Columbus

Posts:12,160
Points:1,912,625
Joined:Dec 2009
Message Posted: Jan 1, 2013 12:23:44 AM

More of our money.
Profile Pic
Matt G
Champion Author Boston

Posts:7,397
Points:3,458,110
Joined:Jun 2004
Message Posted: Jan 1, 2013 12:21:01 AM

With our money
Profile Pic
Rt118E
Champion Author Pennsylvania

Posts:12,920
Points:2,052,875
Joined:Jun 2009
Message Posted: Jan 1, 2013 12:19:40 AM

I hope this is the year we get away from all Arab Oil
Profile Pic
heartbroken2010
Champion Author Ottawa

Posts:7,205
Points:1,582,560
Joined:Aug 2010
Message Posted: Jan 1, 2013 12:18:30 AM

feed the people, keep them happy.
Profile Pic
movietracker
All-Star Author Pennsylvania

Posts:697
Points:168,005
Joined:Mar 2011
Message Posted: Jan 1, 2013 12:18:24 AM

Ok
Profile Pic
CiVX
Champion Author Oakland

Posts:9,663
Points:2,018,965
Joined:Feb 2009
Message Posted: Jan 1, 2013 12:18:16 AM

Buy them off so they don't revolt.
Profile Pic
biza4u
Champion Author New Haven

Posts:11,367
Points:2,307,885
Joined:Jan 2007
Message Posted: Jan 1, 2013 12:18:13 AM

Old news
Profile Pic
TIGERPAW46
Champion Author Florida

Posts:10,056
Points:2,025,775
Joined:Mar 2004
Message Posted: Jan 1, 2013 12:17:19 AM

yep, the speculators help to keep the price up for all the oil selling countries to make more money too.
Profile Pic
MidNJ
Champion Author New Jersey

Posts:9,841
Points:1,791,660
Joined:Sep 2009
Message Posted: Jan 1, 2013 12:16:57 AM

To all, a very happy and healthy New Year and hopefully all the political BS in Washington will end soon.

Profile Pic
defense
Champion Author Grand Rapids

Posts:1,598
Points:1,473,240
Joined:May 2004
Message Posted: Jan 1, 2013 12:16:16 AM

ok
Profile Pic
Tigercat88
Champion Author North Carolina

Posts:6,075
Points:1,303,690
Joined:Jul 2011
Message Posted: Jan 1, 2013 12:15:40 AM

So What does this mean to US.
Profile Pic
tedjm1
Champion Author New York

Posts:5,609
Points:801,050
Joined:Dec 2006
Message Posted: Jan 1, 2013 12:15:30 AM

We will se how this pans out.
Look at our lawmakers, they can do nothing.
Profile Pic
jkpsr
Champion Author New Jersey

Posts:5,944
Points:1,595,390
Joined:Jun 2005
Message Posted: Jan 1, 2013 12:14:37 AM

This is why they need to get at least $90 for oil
Profile Pic
Bigwaynef
Champion Author South Carolina

Posts:15,089
Points:2,763,570
Joined:Dec 2006
Message Posted: Jan 1, 2013 12:14:05 AM

Wow, it's early...
Profile Pic
pa79th
Champion Author Pennsylvania

Posts:4,641
Points:1,880,775
Joined:Jun 2007
Message Posted: Jan 1, 2013 12:13:54 AM

Counting on a lot of $$$ from Uncle Sugar!
Profile Pic
DEG
Champion Author Las Vegas

Posts:20,378
Points:4,154,405
Joined:Jul 2003
Message Posted: Jan 1, 2013 12:12:53 AM

Hopefully the US will become energy independent. This would put a severe crimp in Saudi Arabia's future largesse.
Profile Pic
Chas58
Champion Author Detroit

Posts:3,684
Points:935,345
Joined:Mar 2011
Message Posted: Jan 1, 2013 12:11:06 AM

They best get ready of the new reality when our oil output is greater than theirs.
Profile Pic
EVBuddy
Champion Author Nevada

Posts:19,535
Points:3,702,485
Joined:Sep 2004
Message Posted: Jan 1, 2013 12:10:20 AM

Older still now
Profile Pic
humblepie
Champion Author Toledo

Posts:59,688
Points:3,059,395
Joined:Mar 2006
Message Posted: Jan 1, 2013 12:09:00 AM

just another welfare country like greece, spain and the usa
Profile Pic
UpSol7
Champion Author Augusta

Posts:2,400
Points:1,352,400
Joined:Sep 2008
Message Posted: Jan 1, 2013 12:08:55 AM

Happy New Year!  
Profile Pic
Beboper
Champion Author Virginia

Posts:11,620
Points:2,850,615
Joined:Oct 2005
Message Posted: Jan 1, 2013 12:06:22 AM

old news
Profile Pic
mk9999
Champion Author Rochester

Posts:10,780
Points:2,359,220
Joined:Aug 2008
Message Posted: Jan 1, 2013 12:05:16 AM

With our money.
Profile Pic
weenerdog
Champion Author Detroit

Posts:10,653
Points:2,483,015
Joined:Jan 2008
Message Posted: Jan 1, 2013 12:02:56 AM

we're paying them
Profile Pic
nwsynthetics
Champion Author Oregon

Posts:1,139
Points:550,560
Joined:Dec 2011
Message Posted: Jan 1, 2013 12:01:47 AM

I guess they are making some good money off of us.
Profile Pic
cheaper0ON
Champion Author Ontario

Posts:3,824
Points:1,082,930
Joined:Jan 2012
Message Posted: Jan 1, 2013 12:01:22 AM

Good for them.
Profile Pic
AKmailman
Champion Author Alaska

Posts:8,539
Points:2,239,570
Joined:Jul 2004
Message Posted: Dec 31, 2012 11:58:57 PM

and this interest us because ?
Profile Pic
GordoM
Champion Author Detroit

Posts:2,208
Points:1,512,530
Joined:Nov 2006
Message Posted: Dec 31, 2012 11:57:23 PM

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.
Profile Pic
PoohMcGoo
Champion Author Alabama

Posts:3,792
Points:1,368,260
Joined:Dec 2010
Message Posted: Dec 31, 2012 11:56:32 PM

So we're paying more at the pump so they can spend more on welfare, nice.
Profile Pic
sydb7
Champion Author Atlanta

Posts:5,598
Points:2,512,170
Joined:Mar 2003
Message Posted: Dec 31, 2012 11:55:37 PM

Even though the speculators are desperately trying to raise crude oil prices, The Saudis should not count on continued high prices!
Profile Pic
Bleeder
Champion Author Virginia

Posts:8,093
Points:2,195,350
Joined:Jan 2008
Message Posted: Dec 31, 2012 11:51:55 PM

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.
Profile Pic
bigsranch
Champion Author Houston

Posts:3,751
Points:1,163,560
Joined:Apr 2007
Message Posted: Dec 31, 2012 11:51:22 PM

The prince needs to buy off the Muslims that want to kill him.
Profile Pic
mstearno
Champion Author Dayton

Posts:9,630
Points:2,295,855
Joined:Jan 2008
Message Posted: Dec 31, 2012 11:40:51 PM

who gives a rat's #@@
Profile Pic
ok603
Champion Author Boston

Posts:1,351
Points:913,570
Joined:Sep 2005
Message Posted: Dec 31, 2012 11:37:01 PM

Keep spending
Profile Pic
TFowler513
Champion Author Memphis

Posts:3,824
Points:2,019,010
Joined:Mar 2008
Message Posted: Dec 31, 2012 11:34:31 PM

Must be nice to have the money to do it!!!
Profile Pic
davenles
Champion Author Texas

Posts:6,048
Points:1,403,135
Joined:May 2011
Message Posted: Dec 31, 2012 11:28:54 PM

So nice that they have so much of our money to spend.
Profile Pic
blazerbob91
Champion Author Milwaukee

Posts:7,095
Points:2,521,190
Joined:Aug 2005
Message Posted: Dec 31, 2012 11:26:55 PM

We pay for it.
Profile Pic
Brucevanf
Champion Author New Brunswick

Posts:4,188
Points:928,975
Joined:Aug 2012
Message Posted: Dec 31, 2012 11:24:14 PM

They have more money than they know what to do with.
Profile Pic
CorvairHaven
Champion Author Cleveland

Posts:7,097
Points:2,132,390
Joined:Sep 2008
Message Posted: Dec 31, 2012 11:23:49 PM

Bribing their own people.
Profile Pic
WIPACKERFAN
Champion Author Chicago

Posts:11,664
Points:2,526,180
Joined:Aug 2005
Message Posted: Dec 31, 2012 11:23:22 PM

So what?
Profile Pic
drz614
Champion Author Harrisburg

Posts:5,202
Points:1,283,890
Joined:Aug 2011
Message Posted: Dec 31, 2012 11:15:44 PM

ok
Post a reply Back to Topics