General / Saudi newspapers / second addition, the Saudi Press Agency

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Al-Eqtisadiah newspaper said in its editorial today entitled (How did the vision fortify the economy?): The Kingdom presented a general budget for the next year, which clearly showed the effectiveness of what the high leadership did this year in the face of the emergency global crisis caused by the new Corona epidemic. This budget embodied a high-quality balance in times of crisis, something that did not happen even in the budgets of a number of advanced economies, which were forced to put forward more than one budget in one year. It was evident that the measures taken by the Kingdom had fortified many of the gains it had achieved in the past few years, which were in fact resulted through the implementation of one of the most important global economic plans, through the Kingdom’s Vision 2030.
It indicated that the “vision” tools ensured a healthy and economic confrontation with the current crisis, fortified the Kingdom’s national economy, and created – easily – the tools necessary to address the effects of the crisis in all fields, health, economic, social, development, and others. The Saudi budget for 2021, with its numbers, details and explanations, reached all segments of Saudi society, reinforced by clear proposals directly from the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, and his Crown Prince Mohammed bin Salman. The deficit recorded is the lowest compared to the budget deficit of the “Group of Twenty” countries, and the leadership is working to reduce this deficit next year to 141 billion riyals from 298 billion riyals.
She added that this is a challenge the leadership has set for itself in the next stage, especially in its expectation to increase revenues in 2021 by 10.3 percent. In short, the Kingdom seeks to reduce the deficit next year to 4.9 percent, which is a very low rate compared to the rest of the other advanced economies, while maintaining public debt rates at a rate of 32.7 percent.
She saw that the new budget comes with the assurances of the Custodian of the Two Holy Mosques, to continue working in terms of confronting the crisis left by Corona, while preserving the unique advantages of providing treatment for this epidemic to everyone without exception, including the disbursement of 500 thousand riyals to the families of the deceased due to Corona Of those working in the governmental or private health sector, whether civil or military, Saudi or non-Saudi. They are measures that, in fact, embody the extent of the leadership’s keenness on Saudi society in all its spectrums and forms. They come under direct orders from the King, and with high-quality implementation from Crown Prince Mohammed bin Salman, who stressed, following the announcement of the general budget, to continue to consolidate the gains achieved by the vision Kingdom, “and the launch towards further development and progress in various economic, developmental and social fields.
She said that the pressures imposed by the pandemic were in fact absorbed by the “Kingdom’s vision” tools, which provided, among other things, full support for private sector enterprises during the pandemic, and preservation of jobs and workers in this sector. This was confirmed by the Crown Prince, who pledged to continue work and make efforts to limit the effects of the pandemic and improve dealing with it. The best thing that strengthens Saudi Arabia’s budget for 2021 is that the policies taken by the government in general have maintained financial stability, something that has not happened even in many developed countries, while controlling reservoirs that can create unwanted gaps.
And she concluded: Development projects are moving forward according to what was originally planned, and the vision realization programs are moving on an accelerated and strong path at the same time. In addition, reviewing all programs and projects to ensure their consistency with the goals of the Kingdom’s Vision. There is no doubt that the current plans will raise the efficiency of spending in accordance with budget and other expectations, which is a central goal in the overall national economic construction process.
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06:58 PM CE
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