The past period witnessed the approval of the Shura Council on the tenth development plan document, and its priorities expressed the Kingdom's keenness to consolidate the foundations of sustainable comprehensive economic development, continue to improve the standard of living and quality of life of citizens, develop national human resources and increase their employment rates, enhance the performance of the national economy by developing its structure and raising its productive efficiency and competitiveness, and accelerate the transformation towards a knowledge-based economy and knowledge society.
<p class="p1Million and 250000 housing units
The plan targets the total amount needed to finance development projects to reach 2336 billion riyals, which is 32% more than the amount of spending in the ninth development plan.
The plan targets the total amount needed to finance development projects to reach 2336 billion riyals.
The Council approved the programs and projects of the plan, the most prominent of which is the target of providing about 1.5 million job opportunities for the national workforce and reducing the unemployment rate from about 11.6 percent to about 5.1 percent by the end of the plan in the year 401441, the construction of one million and 250 thousand housing units over the years of the plan, as well as the opening and operation of new general, specialized and reference hospitals with a capacity of 15 thousand beds, during the years of the plan, the start of the construction of general and specialized hospitals with about 11 thousand and 500 beds and the construction of replacement hospitals with 1956 beds and the opening of 750 thousand primary health care centers, including 86 reference centers with integrated primary health care services.
<p class="p2Increasing the value of GDP to about 3238.4 billion riyals. Per capita income increased to 95.3 thousand
The Council supported the fiscal policy adopted by the development plan document, the main features of which were to continue the growth of public spending, at appropriate rates to stimulate economic activity, support its stability and raise its efficiency, and tighten the link between budget programs and appropriations and the development goals and priorities adopted in the plan, while overcoming the obstacles to the transition from the current situation, which is dominated by the method of "line item budgeting" to a more efficient model. "line-item budgeting" to a more efficient model, continuing to strengthen the resources of specialized government lending institutions in proportion to the growth in demand for loans from these institutions, and managing the general budget surpluses in a way that achieves a high and growing economic return, contributes to the stability of budget resources, and limits the negative effects of fluctuations in global oil prices on development programs and projects.
<p class="p1Fiscal and economic policies
In monetary policy, the document emphasized the plan's keenness to adopt monetary policies that are integrated with other economic policies in general, and with fiscal policy in particular, and achieve the objectives, the most important of which are the growth of domestic liquidity at rates that support local economic activity and maintain the stability of the general price level, maintain the stability of the banking system and enhance its effectiveness and competitiveness, continue to develop the financial market and increase its efficiency to support the developmental role of the private sector, and maintain the stability of the Saudi riyal exchange rate through the continued adoption of preventive monetary policies and measures by the Monetary Authority.
The Council approved by majority the document of the updated Tenth Development Plan (37-1441), and stressed the preparation of a budget framework in the medium term (5) years that is updated annually with visions about revenues, expenditures and economic growth rates in its main sectors in light of local and global variables, according to Cabinet Resolution No. 341 dated 26/10/1434 AH
The Council approved the updated Tenth Development Plan (37-1441).
The Council decided to approve an additional recommendation submitted by Council member Dr. Abdullah Al-Jughaiman stipulating "increasing the percentage of spending on scientific research and development to be achieved at the end of the plan years to 2% of GDP."
The Council decided to approve an additional recommendation submitted by Council member Dr. Abdullah Al-Jughaiman.
Development Programs
The tenth development plan allocated about 327.9 billion riyals for spending on economic resources development projects and programs, which exceeds the actual spending on this sector during the ninth development plan by more than 29%, and with regard to human resources development, about 1199 billion riyals were allocated to this sector to be spent on education, training, science and technology during the plan period, and these amounts constitute more than 45%, which is the largest percentage of the total allocations approved in the plan. of the total allocations approved in the tenth development plan for the development sectors, and an increase of about 20% over the amounts spent on the human resources development sector during the ninth development plan, and the plan allocated about 444 billion riyals for spending on the development of health services and social development, an increase of more than 23% over the amounts spent on the social and health development sector during the ninth plan.
<p class="p1Transportation, Communication and Housing
The plan aims to spend 664 billion riyals on the development of basic equipment, including the transportation, communications, municipal services and housing sectors. The plan aims to upgrade the regulatory frameworks of the housing sector and enable it to increase the supply of housing and residential land while enhancing the capabilities of the housing market. The amount allocated for basic equipment constitutes more than 25% of the total allocations approved in the plan and is more than 72% over actual spending on the sector during the ninth development plan. The tenth development plan included increasing the proportion of private sector spending on research and development from 17% to 38%. The plan also aims to establish three technical and three applied universities, scholarship four thousand lecturers and assistants annually, graduate about 58 thousand scholars during the years of the tenth plan, and increase the ratio of judges to the population.
