Economy

Riyadh’s 2019 budget allocates $51 billion for military

Saudi Arabia this week unveiled largest annual budget in oil-rich kingdom’s history

19.12.2018
Riyadh’s 2019 budget allocates $51 billion for military

By Tareq Khaled

RIYADH

The Saudi government has allocated 17.3 percent of its 2019 budget for military spending, according to figures released Wednesday.

Released by the Saudi Finance Ministry on Tuesday, the budget calls for $51 billion -- 17.3 percent of the total -- to be allocated for military spending, representing a 9-percent decrease on last year’s budget.

The military will receive the second largest allocation after the education sector, which is set to receive 17.5 of the total. The health sector will receive 15.6 percent.

On Tuesday, Saudi Arabia unveiled the largest budget in its history, with expenses amounting to some $295 billion and revenue coming to about $260 billion -- representing a deficit of $35 billion.

Since 2015, Saudi Arabia and several of its Arab allies have been waging a massive -- and costly -- military campaign against Yemen’s Houthi rebel group.

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