Saudi 2017 budget based on rationalization, not skimping

The 2017 Saudi budget was announced recently. Expenditure is estimated at 890 billion riyals while revenues are estimated at 692 billion riyals. The estimated deficit will be 33 percent less than the 2016 budget. In 2016, the budget deficit was 297 billion riyals while in 2017 it’s estimated at 198 billion riyals.

Saudi King Salman voiced the necessity of accurately executing the 2017 state budget as the upcoming budget will harmonize with Vision 2030 considering it’s the basic plan to no longer be dependent on oil and to focus on non-oil revenues. This is the core of development between the two budgets.

Some parties want to harm the reputation of the Saudi economy via mouthpieces whose orientations or identity are affiliated with Iran. Their aim is to intimidate people with unfounded crises or with imaginary measures that burden citizens. All these attempts aim to intimidate and spread false rumors.

If we take a look at the budgets of countries in the region or at the budgets of the international community’s governments, we will see the reasonable effects the Saudi budget expects compared with other countries that suffer from deficit which weakened them. Many of these countries could not overcome their setbacks due to their political follies and social tyranny. Take Iran as an example, considering it calls for gloating and preying on others the most.

The Saudi society however is more aware than others and it will not be shaken by the fuss of those spreading false rumors.

This article was first published in Okaz on December 25, 2016.

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Turki Aldakhil is the General Manager of Al Arabiya News Channel. He began his career as a print journalist, covering politics and culture for the Saudi newspapers Okaz, Al-Riyadh and Al-Watan. He then moved to pan-Arab daily Al-Hayat and pan-Arab news magazine Al-Majalla. Turki later became a radio correspondent for the French-owned pan-Arab Radio Monte Carlo and MBC FM. He proceeded to Elaph, an online news magazine and Alarabiya.net, the news channel’s online platform. Over a ten-year period, Dakhil’s weekly Al Arabiya talk show “Edaat” (Spotlights) provided an opportunity for proponents of Arab and Islamic social reform to make their case to a mass audience. Turki also owns Al Mesbar Studies and Research Centre and Madarek Publishing House in Dubai. He has received several awards and honors, including the America Abroad Media annual award for his role in supporting civil society, human rights and advancing women’s roles in Gulf societies. He tweets @TurkiAldakhil.

 

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Last Update: Wednesday, 20 May 2020 KSA 09:53 - GMT 06:53
Disclaimer: Views expressed by writers in this section are their own and do not reflect Al Arabiya English's point-of-view.
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