Budget Highlights for Year 2005

Author: 
Arab News
Publication Date: 
Thu, 2004-12-09 03:00

• Projected revenue: SR280 billion

• Projected expenditure: SR280 billion

• Increase in expenditure (compared to 2004 fiscal): SR50 billion

• Public debts to be reduced to SR614 billion

• Education gets 25 percent of budget allocations

• Oil revenues in 2004 soar to SR393 billion

• Allocations made for 1,420 schools, 22 colleges, four university hospitals and 61 training colleges and centers

• Kingdom’s GDP grows by 16.9 percent at current prices and 5.3 percent at fixed prices.

• Expenditures in 2004 fiscal exceed by SR65 billion

• SR41 billion from 2004 surplus allocated for welfare projects

• Balance of payments expected to reach SR193.2 billion in 2004, up from SR105.2 billion in 2003

• Non-oil exports to grow by 24 percent in 2004 to SR51 billion

• Telecom and transport sectors grow by 7.8 percent in 2004

• Allocations made for 420 primary health care centers and 23 hospitals

• SR75.5 billion earmarked for new projects

• SR70.1 billion allocated for education and manpower training

• Municipal services to get SR10.65 billion

• SR8.85 billion allocated for new projects in transport and telecom sectors

• Water, sewage and desalination sectors to get SR46.2 billion

• State-owned lending organizations to give loans worth SR10 billion

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