Saudi finance minister says no intention to increase energy prices in 2019

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Saudi Finance Minister Mohammed al-Jadaan said there were no intentions to increase energy pricing in Saudi Arabia in 2019, except for a review of gasoline prices.

During a session organized on the sidelines of the announcement of the Kingdom’s 2019 state budget, which was moderated by General Manager of the Al Arabiya News Channel Turki Al-Dakhil, Jadaan said there is a periodic review of gasoline prices according to a clear formula and governance, adding that this review is periodically announced.

“There is no intention to increase the prices of other energy (commodities),” he said.

Jadaan also said that the goals of the next budget are growth, supporting the private sector, providing services to the private sector and transparency.

“The level and rate of debt is currently acceptable as prices fluctuate according to different givens,” he added.

The minister reiterated the Kingdom’s keenness to maintain its strategy in diversifying between local and foreign debt, adding that Saudi citizens’ contribution to the labor market is currently 42 percent.

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