Salim, the Cabinet's Secretary General at the Cabinet meeting. In his speech, the King said the new general budget for the fiscal year 1425-1426 amounts to SR 280 billion. This figure exceeds the previous budget of the fiscal year 1424-1425 by SR 50 billion, he added. "Moreover, the budget coincides with the beginning of the eighth development plan, and it aims at boosting the national economy and achievement of a comprehensive development. "We have given priority to investment in the clear growth in the general revenues so as to accelerate whatever contribute to availing the necessary services for the citizens, and to give an impetus to the march of development, taking into account the importance of reducing the public debt," he said. The King noted that the general budget has been prepared to make the required allocations available for meeting the expenditures required for the operation of the ministries and governmental institutions, as well as to continue the process of modernizing and maintaining the public utilities and preserving them, along with completing projects that have already been started. "Moreover, the budget contains new development and service projects as well as projects that will positively contribute to enhancing the process of development and the role of the private sector. The allocations of the new budget for implementing new projects amount to about twice as much as the allocations of the last fiscal year's budget." --more 1840 Local Time 1540 GMT
