16/12/2020
Al-Khalidi: The new budget confirms the country's success in achieving the difficult equation between increasing expenditures and maintaining financial stability and sustainability
The Chairman of the Asharqia Chamber, Abdul Hakim bin Hamad Al-Ammar Al-Khaldi, confirmed that the new budget ably affirms the government's success despite the challenges that the Corona pandemic imposed on the Kingdom and the entire world, in achieving the difficult equation, by balancing the requirements for increasing expenditures and maintaining financial stability and financial sustainability, pointing out that This reflects the efficiency of the financial policy, administrative and economic planning of the Kingdom, and the superior resources and capabilities it possesses to face unexpected crises such as the Corona pandemic crisis.
Al-Khalidi pointed out that the numbers included in the new budget show signs of recovery from the repercussions of the pandemic, and that they indicate the continuity of work on implementing economic and financial reforms, as well as the continuity of providing more opportunities for the private sector to participate in many major infrastructure projects, describing the new budget as large. As its estimated expenditures amount to (990) billion riyals, and its revenues are estimated at (849) billion riyals, and despite recording a deficit slightly greater than the year 2020 AD, it is a bet on continuing to diversify the economic base in line with the goals of Vision 2030, that vision that directly affected its programs in Deciding on the Kingdom's ability to face the unexpected crisis of Corona, pointing out that the most important characteristic of the government's fiscal policy in managing the budget deficit is that it can avoid the problems that may arise from managing public debt, which is among the lowest rates compared to the public debt of the G20 countries.
Al-Khaldi explained that the 2021 budget came to confirm the path followed by the state since the launch of the 2030 vision, and that it achieves a balance between the paths to maintain financial sustainability and the goals of promoting economic growth and development, and that it shows the government's determination to continue work on the implementation of major spending plans, implementation of major projects and implementation more programs and initiatives to increase the roles of the private sector in the national economy.
