The Saudi Arabian government has paid SAR8 billion to subsidise the prices of formula, fodder and barley in the past two years.
It paid SAR2.3bn to subsidise fodder prices in 2014, up 30 per cent or SAR529 million from the SAR1.7bn recorded in 2013.
According to data compiled and analysed by Al Eqtisadiah, fodder subsidies account for 53 per cent of government subsidies in the past year.
In 2014, the kingdom’s subsidies of barley totalled SAR1.8bn, down by one per cent or SAR17m from the SAR1.9bn paid in 2013 to subsidise barley. Barley subsidies comprised 43 per cent of government subsidies during 2014.
Formula subsidies shot up by 40 per cent or SAR40m last year to SAR139.2m, compared with SAR99.5m in 2013. Formula subsidies comprise three per cent of government-sponsored subsidies.
The Saudi government also paid SAR15.5m in financial support to private schools in 2014, up by one per cent from the SAR15.4m given in 2013.
(SAR1 = AED0.98, at the time of publishing)