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Ministry of Finance submits the new budget for approval

Ministry of Finance submits the new budget for approval
17 Dec

Riyadh - SPA

Ibrahim Assaf, Minister of Finance, announced that the budget of the next fiscal year is prepared and submitted to the higher economic bureau and will eventually be delivered to the cabinet.
In spite of the challenges posed by the economic and financial conditions under which the budget is prepared, Saudi Arabia Arabia managed to utilize surpluses from higher revenues to built financial reserves and reduce public debt, the minister said. During the 2008 crunch and the sharp drop of revenues that followed in 2009, Saudi Arabia was the least affected by the crisis.

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