The Kingdom of Saudi Arabia announces the state budget in December. The budget goes through three stages:
The "Preparation Phase" begins at the end of December of the previous fiscal year and continues through January. Starting in February, the budget directions are determined. From mid-March, the budget undergoes initial review and analysis until the end of April. It is then subject to discussion and review from May until the end of August
The "Approval Phase" consists of three stages: initial analysis during July, August, and September, followed by final approval between October and November, and finally, the budget is released in December.
The "Execution Phase" involves four tracks: announcing the budget to disseminate its instructions, executing it through the collection of revenues, expenditures, and allocations, forecasting its quarterly performance, and preparing the final account, where entities submit their accounts at the end of the fiscal year.
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