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Custodian of the Two Holy Mosques Chairs Cabinet's Session Approving State's General Budget

Economics News
Published 20 Dec 2017
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Custodian of the Two Holy Mosques Chairs Cabinet's Session Approving State's General Budget

Riyadh,SPA :


 The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, chaired the Cabinet's session at Al-Yamamah Palace here yesterday during which the State's General Budget for the fiscal year 1439/1440H was approved.


The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud addressed the nation, announcing the budget of the Fiscal Year 1439-1440 AH, as the largest expenditure budget through the history of the Kingdom, based on low oil price levels compared to previous years, in order to continue development and enhancement process towards achieving the Kingdom Vision 2030, that aims at increasing the size of the national economy and sustain its growth, through diversification of economic base, sources of income and the capacity to adapt with developments and overcoming challenges.


The King said that dozens of programs have been launched to realize the goals of diversifying the economic base and empower the private sector to play a major role, in sustaining expenditure efficiency, in order to realize appropriate economic growth rates, mitigate the burden on the citizens and tackle possible impacts, in addition to supporting the private sector.


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Last Modified Date: 20/12/2017 - 6:47 AM Saudi Arabia Time

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