Saudi cabinet hails positive indicators in monetary agency report

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Saudi Arabia’s King Salman chaired the weekly cabinet session. (SPA)
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Saudi Arabia’s King Salman chaired the weekly cabinet session. (SPA)
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Saudi Arabia’s King Salman, with the attendance of Crown Prince Mohammed bin Salman, chaired the weekly cabinet session. (SPA)
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Saudi Arabia’s King Salman, with the attendance of Crown Prince Mohammed bin Salman, chaired the weekly cabinet session. (SPA)
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Saudi Arabia’s King Salman chaired the weekly cabinet session. (SPA)
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Saudi Arabia’s King Salman chaired the weekly cabinet session. (SPA)
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Saudi Arabia’s King Salman chaired the weekly cabinet session. (SPA)
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Saudi Arabia’s King Salman chaired the weekly cabinet session. (SPA)
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Saudi Arabia’s King Salman chaired the weekly cabinet session. (SPA)
Updated 11 September 2018
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Saudi cabinet hails positive indicators in monetary agency report

JEDDAH: The Saudi Cabinet on Tuesday expressed its satisfaction with the Saudi Arabian Monetary Authority’s 54th annual report of positive statistical indicators for 2017, which highlighted the ability of the Kingdom’s economy to adapt to changes and confirmed the strength of the financial and banking sectors.
Chaired by King Salman at Al-Salam Palace in Jeddah, the Cabinet expressed its optimism about the financial and economic indicators that emerged during the first half of the current fiscal year, and of the ability of the Saudi economy to adapt to the reforms adopted during the past two years through the achievement of good growth rates contributing to supporting the goals of the Kingdom’s Vision 2030.
The Cabinet expressed hope that the new Hijri year 1440 AH will bring a breakthrough for crises and an end to global tensions — as well as a year of blessings for Arab and Islamic nations during which security and stability can be achieved around the world.
The Cabinet commended relations between Saudi Arabia and Pakistan and the keenness of both to promote and develop them in all fields. It congratulated President Dr. Arif Alvi on his swearing-in as president of Pakistan.
The Cabinet reviewed a number of reports on the latest developments in the Arab, regional and international arenas. It reiterated the Kingdom’s condemnation of the double bombing targeting a sports club, the attack near a motorcade in Kabul and offered condolences to the families of the victims and Afghanistan’s government and people. The Cabinet confirmed the Kingdom’s solidarity to stand by Afghanistan against violence, extremism and terrorism.
The Cabinet approved a protocol on cooperation in combating crime between the government of Saudi Arabia and the government of Azerbaijan. It also approved a memorandum of understanding between the government of Saudi Arabia and the government of the UK on visas to citizens of both countries.
The Cabinet approved an agreement between the government of Saudi Arabia and the government of the Russian Federation for cooperation in the field of exploring space and using outer space for peaceful purposes.


Finance officials meet to map out Saudi Arabia’s budget plans

Updated 19 April 2019
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Finance officials meet to map out Saudi Arabia’s budget plans

  • Finance representatives of 150 government bodies meet for the Budget Forum 2020

RIYADH: Saudi finance chiefs have kicked off a major conference in the capital aimed at mapping out the Kingdom’s budget requirements.
Around 300 specialists representing 150 government bodies met at the InterContinental hotel in Riyadh for the Budget Forum 2020.
Minister of Finance Mohammed Al-Jadaan welcomed delegates to the second edition of the gathering organized by the Saudi Finance Ministry under the slogan “Partnership and Empowerment.”
Al-Jadaan said the ministry was focused on “partnership and commitment,” and sought to share the challenge of developing an effective budget to achieve the Kingdom’s ambitious goals.
“We are also committed to empowering financial leaderships to learn about the ministry’s programs and projects and provide training and qualification opportunities to the best international standards,” he added.
The finance chief said the budget planning process required the collaboration of multiple authorities and a clear strategy based on transparency. 
Items up for discussion at the forum included financial planning in governmental bodies, automation, and the promotion of revenues and efficient spending.
Finance Ministry steering committee chairman, Abdul Aziz bin Saleh Al-Freih, stressed the importance of the forum in getting the ball rolling at an early stage on formulating a general state budget.
Workshops were held on the sidelines of the conference focused on empowering government organizations, and a training program on financial planning and income estimations was also staged.