More than a third of the Saudi budget goes to education, health and development
Saudi Arabia has released the budget expenditures for the coming 2017 year; more than a third of its expenses will be in two key emerging sectors
Saudi Arabia has released the budget expenditures for 2017; more than a third of its expenses will be in two key emerging sectors: the education with more than 200 billion riyals, and the health and social development sector with 120 billion riyals.
The figures allocated for the education and health and social development sectors represent 36% of the total estimated budget amounting to 890 billion riyals.
Saudi King Salman bin Abdulaziz Al Saud, presided over the Cabinet meeting on Thursday and said that the current budget will support the “integration of all governmental institutions to further enhance their financial discipline and promote transparency and fairness.”
King Salman stressed that the 2017 budget aims to “raise the efficiency of the spending.” This year’s budget is 6% higher than last year’s.
The 890 billion riyals’ budget was divided on 9 major sectors: 200 billion riyals for education, 190 billion for the military and 120 billion for health sector and social development sector.
The budget has allocated 107 billion riyals for the public programs, 96.6 billion for security and administrative sectors and 52 billion for the basic equipment and transportation sector.
47.9 billion riyals were allocated for the municipal services sector, 47.2 billion for economic resources and 26.7 billion public administration sector.
Saudi King Salman approves state’s general budgetThe Saudi cabinet approved the state's general budget for the new fiscal year 2017 in its session under King Salman Economy
#SaudiBudget2017 announced: Latest updatesHow reforms will transform the economy to coincide with the Kingdom's Vision2020 Economy
Analyzing the importance of VAT in Saudi Budget 2017VAT provision in Saudi Budget 2017 is likely to have substantial impact on the quality and volume of consumption in the country Features
Saudi Budget 2017: Major break from the old moldUnlike previous budgets, the 2017 budget is based on a four-year budgetary cycle for the period 2017-2020 Middle East