Daily Archives: December 28, 2015

Minister of Finance: state budget focused on priorities of citizens with implementation of basic development projects

Riyadh, Rabi’I 17, 1437, December 28, 2015, SPA — Minister of Finance Dr. Ibrahim bin Abdulaziz Al-Assaf said that the state budget for the current year focused on the priorities of citizens with continuation of implementation of key development projects …

Water, electricity tariffs' increases minor; fuel prices lowest globally

Riyadh, Rabi’I 17, 1437, December 28, 2015, SPA — Minister of Water and Electricity Engineer Abdullah bin Abdulrahman Alhosain stated that 87% of the bills of subscribers of electricity services which have been introduced this year will not be affected …

Minister of Justice hails Custodian of the Two Holy Mosques' economic reform

Riyadh, Rabi’I 17, 1437, December 28, 2015, SPA — Minister of Justice Sheikh Dr. Walid bin Mohammed Al Samaani stressed that the state budget revealed the strength and durability of the Kingdom’s economy and its ability to overcome the global …

Dr. Al-Rabiah: SIDF gives priority to financing energy rationalization projects in factories

Riyadh, Rabi’I 17, 1437, December 28, 2015, SPA — Minister of Commerce and Industry and the Chairman of the Board of Directors of the Saudi Industrial Development Fund ( SIDF ) Dr. Tawfiq Al-Rabiah, stressed that the Fund will give …

Finance Ministry Issues A Press Release on State's Budget 10 Riyadh

b.Sadad Electronic Payment System
In regards to the implementation of the Sadad electronic payment system, which manages fees and wages of government services in the Kingdom, two new government agencies were recently linked to the system during the current fiscal …

Finance Ministry Issues A Press Release on State's Budget 9 Riyadh

The current account of the balance of payments is expected to achieve a deficit of SR 154.9 billion in the current fiscal year 1436/1437 (2015), compared to a surplus of SR 288.4 billion last fiscal year 1435/1436 (2014).

5-Important regulatory …

Finance Ministry Issues A Press Release on State's Budget 7 Riyadh

Fourth: Economy Developments

1-Gross Domestic Product (GDP):
According to the Central Department of Statistics and Information,the GDP for the year 1436/1437 (2015) is projected to reach, in current prices, SR 2.450 billion, a decrease of 13.35 percent compared to fiscal …