The Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud has issued here today three royal decrees on the state budget for the fiscal year 1430 - 1431 H. and the Cabinet's decision approving the budget. The first royal decree estimates the state revenues for the fiscal year 1430 - 1431 H. at SR410,000,000,000 and expenditures are allocated at SRSR475,000,000,000. The Minister of Finance is authorized to withdraw from this account to replenish the expenditures for the projects currently financed from the surpluses of the fiscal years extending from 1424 to 1428 H. Had the budget yielded a surplus, the authorities should transfer it to the state reserves. No withdrawals are allowed from it unless authorized by a royal decree. The Minister of Finance is authorized to borrow and transfer from the state reserves, as deemed necessary, to settle public debt and cover the budget deficit. --More
