Saudi newspapers highlighted in their editorials today a number of issues at local, regional and international arenas. Al-Riyadh newspaper reported in its editorial that the indicators in the state's general budget showed the success of the Vision 2030 programs, as it made a comprehensive economic transformation based on diversifying the economy, increasing spending efficiency, reducing dependence on oil as a primary source of income, as well as enhancing the role of the private sector as an engine of economic activity. The paper added that the government of the Custodian of the Two Holy Mosques is keen to ensure that the needs and demands of citizens are among the priorities of Saudi Arabia spending; therefore, the Custodian of the Two Holy Mosques issued directives in his speech yesterday at the Cabinet's virtual session to give priority to the protection of citizens and residents health and safety, continuation of efforts to reduce the effects of this pandemic on our economy, continuation of work to stimulate economic growth, developing of services, supporting the private sector, preserving citizens jobs in it and achieving the objectives of the Kingdom's Vision. The budget affirmed the Kingdom's success in implementing many reforms, continuing fiscal discipline and increasing the private sector participation since Vision 2030 focuses on strengthening the partnership between the public and private sectors and increasing the private sector's contribution to the national GDP to reach 65% by 2030, the paper added. The paper concluded that International economic reports commended the Kingdom's reforms as these reforms are factors for improving and strengthening the economy to face the drop in oil prices. These reforms will also ensure that Saudi Arabia's economy will maintain the sustainability of economic growth in the future. Al-Eqtisadiah newspaper reported in its editorial that Saudi Arabia's approved the budget of 2021 in light of the tremendous impacts of the Coronavirus pandemic on the whole world. However, the Kingdom of Saudi Arabia was able through a series of high-quality and effective measures to successfully reduce the effects of the crisis, armed with a comprehensive development strategy and economic construction that included Vision 2030. The deficit in Saudi Arabia's budget is not huge, despite all the measures it has taken this year to confront the repercussions of the pandemic, which required raising the level of public spending to support the system of social benefits and basic services, as well as the health sector. According to the budget for 2021, revenues will reach SAR 849 billion, compared to SAR 990 billion riyals for expenditures. The expected deficit will be around SAR 141 billion or 4.9 per cent of the Gross Domestic Product (GDP). Despite the economic contraction of 3.8 per cent this year in the Kingdom, it was lower than the estimates of the International Monetary Fund. The Saudi budget showed again that the Saudi economy remains among the best economies in the G20. The Kingdom of Saudi Arabia enjoys the second lowest level of public debt to GDP within the group at 34 percent in 2020. It is expected that the debt will decline in the next few years, based on the economic growth the country is witnessing in general, the newspaper said. The deficit was greater this year due to Coronavirus and the implications of the pandemic, which imposed exceptional measures and procedures. However, Saudi Arabia will work on reducing the deficit as much as possible, while maintaining the pace of development even in light of emergency global crises. The approach that the leadership has set is based on limiting the negative effects on people and the Saudi and economy. Expectations indicate that the next year will witness real GDP growth, in light of expectations of recovery of various economic activities. The plans and measures taken by the government have contributed to setting a realistic budget that takes into account even unforeseen issues. In another context, Al-Yaum newspaper said in its editorial that the educational process in Saudi Arabia in 2020 went through exceptional circumstances due to the Coronavirus pandemic; however, it was able to achieve balance in terms of preserving the safety of everyone, including teachers, male and female students, as well as to ensure the continuation of the educational process. Today, as we witness advanced stages of the return carefully to the normal life. We are witnessing a different chapter, which is the attainment of the final exams for the first semester, which will be held remotely. There is a must for those in charge of the educational process and family to cooperate in order for these tests to be conducted in a manner that ensures the achievement of their goals and advances the comprehensive concept of the distance education process, which is no longer a temporary option with the current pandemic, rather it has become an approach, the paper concluded.
