A record surplus budget!
Saudi Arabia yesterday announced a record surplus budget SR 9 billion for 2013, projecting expenditure at SR 820 billion and revenues at SR 829. It has allocated SR 285 billion for new projects, SR 204 billion for education, SR 100 billion for health, SR 65 for transport and SR 57 billion for water, industry and agriculture.
The budget was approved by a special Cabinet session, which was chaired by Custodian of the Two Holy Mosques King
Abdullah at his palace in Riyadh. “We hope it will be a budget of goodness and blessing for Saudis as well as other Muslims,” the king said.
In his budget speech, which was read out by Cabinet Secretary-General Abdul Rahman Al-Sadhan, King Abdullah said the budget reflects the government’s plan to increase spending to strengthen the economy.
He said greater spending would create more job opportunities for Saudis and improve services being extended to the public. He reiterated the government’s desire to invest more in the country’s human resources.
“We have allocated SR 204 billion for education and training and improve learning atmosphere in tune with modern developments in the field,” the king said. He also disclosed plans to establish five new medical cities and 19 new hospitals in various parts of the country.
- Asian Tribune -