THREE ROYAL DECREES WERE ISSUED TODAY, DECEMBER 18, 2006, ON THE STATE'S GENERAL BUDGET FOR THE FISCAL YEAR 1427-1428H. THE FIRST DECREE SAID: FIRSTLY: THE STATE'S REVENUES FOR THE FISCAL YEAR 1427-1428 ARE ESTIMATED AT SR 400 BILLION. EXPENDITURES FOR THE FISCAL YEAR 1427-1428 AMOUNT TO SR380 BILLION. SECONDLY: REVENUES ARE OBTAINED IN LINE WITH THE FINANCIAL SYSTEMS AND ARE TO BE DEPOSITED UNDER THE CURRENT ACCOUNT OF THE MINISTRY OF FINANCE AT THE SAUDI ARABIAN MONETARY AGENCY (SAMA). THIRDLY: AUTHORIZATION OF THE MINISTER OF FINANCE TO ADD THE REQUIRED SUMS FOR EXPENDITURE ON THE PROJECTS FINANCED FROM THE SURPLUS OF THE REVENUES FOR THE FISCAL YEARS 1424-1425, 1425-1426, AND 1426-1427, IN LINE WITH THE ROYAL ORDER 46325 DATED ON 10.9.1425, THE ROYAL ORDER NUMBER 227/A, DATED ON 16.7.1426, AND THE ROYAL ORDER NUMBER 149-A, DATED ON 11.11.1427. FOURTHLY: EXPENDITURES ARE TO BE IN LINE WITH THE BUDGET AND THE INSTRUCTIONS PERTAINING TO IT. FIFTHLY: SURPLUS OF THE BUDGET WILL BE ALLOCATED FOR REPAYMENT OF GENERAL DEBT, AND IN CASE OF DEFICIT IN THE BUDGET, THE FINANCE MINISTER WILL BE AUTHORIZED TO BORROW FOR ITS COVERAGE. SIXTHLY: A-TRANSFERENCE OF THE ALLOCATIONS OF THE BUDGET'S CHAPTERS AND BRANCHES TO TAKE PLACE IN LINE WITH A DECISION FROM THE MINISTER OF FINANCE BASED ON A JOINT REPORT BETWEEN HIM AND THE CONCERNED MINISTER OR THE HEAD OF THE AUTHORITY THAT HAS AN INDEPENDENT BUDGET. B-TRANSFERENCE OF ALLOCATIONS OF THE BUDGET'S CHAPTERS IS TO TAKE PLACE BY A DECISION FROM THE MINISTER OF FINANCE. C-TRANSFERENCE AMONG THE ARTICLES OF THE FIRST CHAPTER, THE SECOND CHAPTER AND THE ANNUAL PROGRAMS OF OPERATION AND MAINTENANCE IN THE THIRD CHAPTER IS TO TAKE PLACE BY A DECISION FROM THE CONCERNED MINISTER OR THE HEAD OF THE AUTHORITY OF THE INDEPENDENT BUDGET, PROVIDED THAT THE TRANSFERRED SUM SHOULD NOT EXCEED HALF OF THE ORIGINAL ALLOCATION OF THE PROGRAM TO WHICH IT WILL BE TRANSFERRED WITH THE EXCEPTION OF THE ARTICLES AND PROGRAMS OF THE SALARIES. TRANSFERENCE OF MORE THAN HALF OF THE ALLOCATION SHOULD BE THROUGH A DECISION FROM THE MINISTER OF FINANCE. --MORE
