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Recent Economic Developments and Highlights of Fiscal Years 1435/1436 (2014) & 1436/1437 (2015) 2 Riyadh

government. In addition, efforts to rationalize current spending will continue, especially salaries, wages and allowances, which contribute to about (50) percent of total budgeted expenditures.
Appropriations
Appropriations for new and existing projects will be about SR 185 (US $49.3) billion, as follows:
Education:
Allocation of around SR 217 (US $57.9) billion, representing (25) percent of FY 1436/1437 (2015) total appropriations.
The new budget includes (164) new projects costing around SR 14 (US $3.7) billion and additions to existing projects costs of about SR 6.8 (US $1.8). Spending on all projects under construction will continue across the Kingdom according to their implementation phases, with more than SR 280 (US $74.7) billion from previous appropriations.
For General Education, the budget includes (500) projects for rehabilitating existing school buildings and (11) projects for rehabilitating existing sport centers, with an estimated of around SR 405 (US $108) millions.
For higher education, the new budget includes appropriations of around SR 12.3 (US $3.28) billion for completing and rehabilitating of college campuses in several universities and opening of (3) new universities. With regard to the scholarship program, the total number of students studying abroad reached over (207,000) students (including their dependents who are also supported by the government). Total expenditure on the scholarship program is estimated at SR 22.5 (US $6) billion, excluding scholarships for employees of government institutions.
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15:18 LOCAL TIME 12:18 GMT
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