​​
Indebtedness:


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 out​standing 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 A​rabia'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 December 2023, Saudi Arabia's total outstanding direct indebtedness amounted to SAR 1,050.3 billion (U.S.$280.1 billion), comprising SAR 644.4 billion (U.S.$171.8 billion) of domestic indebtedness and SAR 405.9 billion (U.S.$ 108.2 billion) of external indebtedness. 

As at end of September 2024, Saudi Arabia's total outstanding direct indebtedness amounted to SAR 1,157.6 billion (U.S.$308.7 billion), comprising SAR 688.7 billion (U.S.$183.7 billion) of domestic indebtedness and SAR 468.9 billion (U.S.$125.0 billion) o​f external indebtedness. 

The following table sets forth the Government's total outstanding direct indebtedness (external and domestic) as of 2023,​ 2022, 2021, 2020, 2019, 2018, 2017, 2016, and 2015, respectively. In addition to 2024 as the end of September 2024​.


​​Government’s total outstanding direct indebtedness (external and domestic)
SAR billions, except percentages​
​​2024 Q3
​2023
​​2022
 2021
 ​2020
 2019
  2018
 2017
 2016
 2015
Borrowed During Period
185.1 (6)
189.2 (4)
​125.4 (3) 
 157.9 (2) 220.0​ 120.0
 120.0
 139.1
 200.1
 98
Repaid During Period
77.7 (7) 
​128.7 (5)
​73.3 (3)
 73.4 (2) 
 ​44.4
 2.0
 3.3
 12.4
 25.8
 -
Indebtedness Outstanding at End of Period
​1,157.6
​1,050.3
 990.1​ 938.0 ​853.5
 677.9
 560.0
 443.3
 316.6
 142.2 
Change (%)
10.2
6.1
​5.6
 9.9
 25.9​ 21.1
 26.3
 40.0
 122.5
 221.4
GDP (1) (Nominal)
4,091 ​​​(8)​
4,003
 4,157​ ​3,278
 2,​754​ 3,145 3,175
 2,681
 2,497
 2,511
Ratio of Public Debt to Nominal GDP (%)
​28.3%​ (8)
26.2​%​​
​23.8%
 28.6%
 ​31.0%
 21.6% 17.6%
 16.5%
 12.7%
 5.7%

Source:  National Debt Management Center, Ministry of Finance

1.      As per General Authority for Statistics.

2.      2021 figure is including an amount of SAR 33bn related to a switch transaction executed end of 2021.

3.      2022 figure is including SAR 26 bn related to the switch transaction executed in 2022.

4.      2023 figure is including SAR 35.96 bn additional issuances under the early purchase transaction executed in 2023.

5.      2023 figure is including redeemed amount of SAR 35.71 bn under the early purchase transaction executed in 2023.​

6.      2024 figure is including SAR 64 bn additional issuances under the early purchase transaction executed in 2024​.

7.      2024 figure is including redeemed amount of SAR 63 bn under the ​​early purchase transaction executed in 2024.​

8.     ​ As per the official Pre-Budget statement for the fiscal year of 2025.​


Note:               

​​·  Numbers are rounded.

​

 

The following table sets forth a breakdown of the Government outstanding direct domestic Issuances ​​(in primary local market excluding switch transactions) by creditor type, as of 31 December 2022, 2021,2020, 2019, and 2018 respectively. In addition to 2024 as the end of September 2024​.​​

Local Issuances (Primary Market) (Million Saudi Riyals)
​
2024
Q3​
​2023
​2022
2021
2020
2019
​​2018
Government Institutions
​3,024
9,181
17,169
​22,837
41,770
9,317
​9,115
​​​​​Local Banks
​37,631
32,472
51,195​50,135
42,256
54,206
39,600
Foreign Investors
​2,816
2,406
200​80
​81
50
-​
​Individuals
​18
​17
​4
31​
4
8
​-
Investment Companies and Mutual Funds
​1,007
711
444
2,264
602
1,905
35
​ Companies​
​3,517
824
​329
624​
326
4,352
-​​
Total Issuance
​48,013​
45,611​
69,34175,97185,03969,83848,750

​​

Source:  National Debt Management Center

Note:               

​​·  Numbers are rounded.​​​