The Following is the press release from the Ministry of Finance, issued here today. The following is the outcome of the fiscal year 1425/1426 (2005), the highlights of the new budget for the fiscal year 1426/1427 (2006), and the recent economic developments in Saudi Arabia. The Outcome for Fiscal Year 1425/1426 (2005): The Ministry of Finance projects revenues to reach SR 555 billion in 2005, while expenditure amounts to SR 341 billion; the realized budget surplus will be utilized as directed by the royal order namely to retire part of the stock of public debt, implement a special program of infrastructure projects, and replenish the resources of development funds. Preliminary estimates indicate that public debt will drop to around SR 475 billion (41% of GDP) at the end of fiscal year 1425/1426 (2005). The National Budget for 1426/1427 (2006) Under the 1426/1427 (2006) budget, the government continues to pursue the objective of optimizing the available resources and give priority to social infrastructure and services especially education, health, social affairs, municipal services, water and sewage, and roads. Moreover, the budget put special emphasis on capital expenditure that will enhance economic growth and job creation. The following are the main features of the 2006 budget: 1- Revenues are projected at SR 390 billion. 2- Expenditure is budgeted at SR 335 billion. 3- Total cost of capital projects amounted to SR 126 billion. --MORE 2126 Local Time 1826 GMT
