Khudairi said that the Minister of Finance gave a brief presentation on the state budget in which he explained the financial results for the current financial year 1435/1436 AH and reviewed the main features of the general budget of the state for the new fiscal year 1436/1437 AH, and the developments of the national economy. The minister explained that the next fiscal year 1436/1437 budget was adopted under international economic and financial conditions that are challenging as global economic growth declined from previous levels and the price of oil fell to its lowest level since the 2009 G. as well as instability factors in some surrounding areas, and in line with the kingdom's financial policy opposite to economic cycles to strengthen public finances, enhance their sustainability over the medium and long terms development and ensure the continued adoption of the development and service projects necessary for economic growth with building financial reserves from fiscal surpluses resulting from higher general revenues of the state in some years to take advantage of them when these revenues drop in future years. The minister said that base on royal directives, the kingdom will continue to invest in projects and programs of development of the sectors of education, health, security, social and municipal services, water and sanitation, roads, electronic transactions, and scientific research support in order to achieve sustainable development for this generation and future generations and to create more job opportunities for citizens, with more efforts to reduce current expenditures especially expenses of salaries, wages, allowances and the like, which represent nearly 50 percent of the approved budget expenditures. Coordination has been forged between the Ministry of Finance and the Ministry of economy and Planning to link the budget with the contents of the tenth development plan starting in fiscal year 1436/1437. The budget included new programs, projects and additional stages for some of the projects that have already been adopted whose total value is about 185 billion riyals. According to practice, the new projects of government bodies will be included on websites of those bodies, and the Ministry of Finance's website. --More 15:01 LOCAL TIME 12:01 GMT تغريد
