SAUDI BUDGET 2016

Saudi plans new era of efficient spending

The Saudi government approved the budget for next year, and it will include the reform steps in addition to increasing dependence on non-oil revenues. In an exclusive interview with Al-Arabiya, the Minister of State, Mohammad Al-Sheikh confirmed that controlling and rationalizing the expenditure is a main pillar of the new budget, and it started with the formation of the council for economic affairs and development. He also pointed out that the government tends to continue borrowing and activating the management office of the public debt, in addition to studying the external borrowing program as well as withdrawing the cash from local banks.

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Last Update: Wednesday, 30 December 2015 KSA 16:18 - GMT 13:18
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