Month: December 2015

Revenues, expenditures and deficit highlights Highlights of the new budget results

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Reading time: 4 MinutesFollowing the Cabinet’s approval, at its meeting held today, Monday, at Al-Yamamah Palace in Riyadh and chaired by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, of the state’s general budget for the new fiscal year 1437/1438 AH, Adel Al-Turaifi, Minister of Culture and Information, outlined in a statement to the Saudi Press Agency the key outcomes of the budget presented by the Minister of Finance, which are as follows… Read more

Amlak publishes the approved budget for state sectors for the fiscal year 1437-1438 AH. Security and education at the forefront

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Reading time: < 1 MinuteThe security and military sector received significant attention in the state budget for the year 1437 -1438 AH, with the highest allocation compared to other sectors: 213.367 million riyals, accounting for 25.4 percent of the general budget, followed by the education, training, and workforce sector, which received 191.659 million riyals, accounting for 22.82% of the total budget. Additionally, 183.000 million riyals were allocated to budgetary support to avoid … Read more

Royal Decree M/16 approves 26.3 billion for the expenses of the Municipalities and Municipalities for the current fiscal year - (3)

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Reading time: 2 Minutes  Royal Decree No. M/16, issued on March 17, 1437 AH, approved the budget for the expenditures of the secretariats and municipalities for the fiscal year (1437/1438) at (26,313,931,000) twenty-six billion, three hundred thirteen million, nine hundred thirty-one thousand riyals, while the budget estimated total revenues at (6,047,960,000) six billion, forty-seven million, nine hundred sixty thousand … Read more

Royal Decree M/15 allocates 133 billion for public institutions' expenses from the current year's budget - (2)

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Reading time: 2 Minutes  The state budget for the fiscal year 1437 AH / 1438 AH estimated the expenditures of public institutions—and similar entities—whose budgets are attached to the general state budget for the fiscal year 1437 / 1438 at (133,062,238,000) one hundred thirty-three billion, sixty-two million, two hundred thirty-eight thousand riyals. This was stated in the text of Royal Decree No. M/15 dated March 17 … Read more

Amlak publishes the text of the three royal decrees related to the budget of the fiscal year 1437 AH / 1438 AH - (1)

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Reading time: 5 Minutes  The Custodian of the Two Holy Mosques, Salman bin Abdulaziz Al Saud, issued three royal decrees yesterday, Monday, regarding the state budget for the fiscal year 1437 AH / 1438 AH, namely Royal Decree No. M/14 /  , Royal Decree No. M/15, and Royal Decree No. M/16. The newspaper Amlak publishes the texts of these decrees in sequence. Text of Royal Decree No. M/14: In the name of … Read more

King Salman: The budget is based on solid foundations with multiple sources of income and prioritizes completion of projects

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Reading time: < 1 MinuteThe Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, affirmed during a Cabinet meeting he chaired today that this budget marks the beginning of a comprehensive action plan to build a strong economy and that it comes amid falling oil prices, emphasizing that this budget is based on solid foundations with multiple sources of revenue and noting that the priority is to complete projects in … Read more

The Kingdom announces the general budget for 1437/1438 AH: Revenues 513 billion. Expenditures 840 billion. Projected deficit 326 billion

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Reading time: < 1 MinuteThe Unified Media Center for the Announcement of the Kingdom’s General Budget for 1437/1438 AH announced the broad outlines of the state’s general budget, revealing that projected revenues amount to 513 billion riyals, while expenditures total 840 billion riyals, resulting in a projected deficit of 326 billion riyals. The center stated that revenues are projected to reach 608 billion riyals in 2015, noting that the projected fiscal deficit by the end of the current year could reach … Read more

With more than 200 exhibitors “Jeddah Trade Fair concludes with more than 10,000 visitors

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Reading time: < 1 MinuteWith the participation of more than 200 international and local companies, the «Jeddah International Trade Fair 2015,» a specialized trade event, concluded after four days of major business deals at the Jeddah Convention and Events Center. The broad participation in the 27th edition of the Jeddah International Trade Fair and the numerous agreements signed on the sidelines of the event reflected the confidence of visitors… Read more

ArabNet creators win Riyad Bank's Pioneer Business Awards

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Reading time: < 1 MinuteRiyad Bank presented incentive awards to the entrepreneurs with the best ideas who participated in the ”ArabNet” forum, which was recently hosted by the Four Seasons Hotel and organized by King Abdulaziz City for Science and Technology from December 14–16. The awards went to three winners whose innovative projects stood out for their creativity, as an incentive for their achievements in enhancing the Kingdom’s competitive edge in the field of innovative solutions… Read more

Omdad International Contracting makes its own mark in hotel construction

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Reading time: < 1 MinuteAmad International Contracting Company has achieved widespread recognition and remarkable success in the field of luxury hotel construction, despite having been in the market for only four years; it has managed to leave its own unique mark on every project entrusted to it, thanks to its capabilities and qualified workforce, honed by extensive experience in the field of hotel construction and development, which … Read more

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