saudi government optimestic of economic future
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

After announcing new budget

Saudi government optimestic of economic future

Arab Today, arab today

Arab Today, arab today Saudi government optimestic of economic future

the state budget for 2018, is evidence that “we are on track to manage our economy.
Jeddah - Arab Today

Saudi Deputy Minister of Budget and Organizational Affairs in the Ministry of Finance Yaser al-Quhidan said that the state budget for 2018, which will be announced on Thursday, is evidence that “we are on track to manage our economy effectively despite difficult international circumstances.”

He said the expected announcement confirms the approach adopted by the Saudi government in enhancing transparency and improving the standards of financial disclosure as one of the pillars of its strategy in the framework of achieving the program of financial balance within the objectives of the Saudi Vision 2030.

"The ministry of finance introduced this year changes to the budget process to improve financial disclosure and ensure the highest levels of transparency in revealing financial records," he added.

He pointed out that the budget statement for this year is a reflection of the new policy adopted by the Ministry, which takes into account a variety of economic and financial considerations.

The new measures introduced this year, he said, include the development and implementation of a medium-term fiscal framework to improve the risk management process and identify policies to be implemented over the medium term through measurable targets, the introduction of a unified account of the treasury for a better management of cash resources and the transition from accounting on a cash basis to accrual accounting.

Quhidan noted that these measures required holding workshops to discuss the preparation of the budget in accordance with this mechanism in the presence of more than 400 participants from 30 government agencies, whose budgets represent 80 percent of the state budget.

These measures also contributed to increasing the efficiency of preparing the budget and improving financial control and measuring performance, Quhidan stated.

“The accounts mentioned in the 2018 budget statement will be classified in line with the Government Finance Statistics Manual 2014, a classification based on international standards issued by the International Monetary Fund,” Quhidan explained.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi government optimestic of economic future saudi government optimestic of economic future

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi government optimestic of economic future saudi government optimestic of economic future

 



GMT 11:37 2017 Monday ,13 November

Life expectancy up 10 years thanks

GMT 09:24 2015 Saturday ,29 August

KT, LG launches industry's first IPTV-featured PC

GMT 08:52 2017 Thursday ,07 December

Obama trumps Trump in Twitter Top 10 of 2017

GMT 12:57 2017 Sunday ,23 April

I would have made 10 changes, rages Everton boss

GMT 04:34 2017 Tuesday ,19 September

Myanmar ready to verify refugee status 'at any time'

GMT 01:54 2017 Saturday ,30 September

May22nd-June21st

GMT 17:28 2017 Sunday ,15 October

Weinstein film studio facing sale or shutdown

GMT 11:56 2014 Thursday ,02 October

Angry Birds maker Rovio to cut up to 130 jobs

GMT 23:55 2017 Saturday ,29 April

ISIS Suspect Arrested in Western Germany

GMT 18:07 2017 Sunday ,08 October

Dollar exchange rate stable at major banks
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday