saudi arabia q1 total revenues sr 144076 billion up 72
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

Saudi Arabia: Q1 total revenues SR 144,076 billion, up 72%

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Saudi Arabia: Q1 total revenues SR 144,076 billion, up 72%

Minister of Finance Mohammed bin Abdullah Al Jadaan
Riyadh - BNA

Minister of Finance Mohammed bin Abdullah Al Jadaan has announced the issuance of the quarterly report on the performance of the State's general budget for the first quarter of the fiscal year 2017.
This came during a press conference in which he indicated that the data of the first quarter report reflected a rise in revenues, a remarkable improvement in the efficiency of spending and reducing the deficit while basic services provided for citizens have topped priorities on the list of the governmental spending, Saudi Press Agency (SPA) reported.
The Minister of Finance said: "This step applied for the first time in the history of the Ministry comes within the framework of the Government's commitment to transparency and financial disclosure as it continues to implement the initiatives of National Transformation Program within the Kingdom's ambitious Vision 2030."
Al Jadaan pointed out that the quarterly report highlighted the most prominent financial indicators for the performance of the general budget of the State for the first quarter of the 2017 fiscal year, indicating that total revenues for the first quarter amounted to SR 144,076 billion, an increase by 72% compared with the same period of last year, as non-oil revenues for the first quarter amounted to SR 32 billion, an increase of 1% compared with the same quarter of last year.
He noted that oil revenues increased during the first quarter to reach SR 112 billion with a growth rate of 115% compared with the same quarter of the previous year, driven by improved oil prices in international markets.
Total expenditures for the first quarter amounted to SR 170,287 billion, down by 3% compared with the same quarter of last year and the education sector has the largest percentage of the approved budget compared with other sectors with 23% of the total estimated budget.
The minister pointed out that 46% of the expenditures were allocated during the first quarter to basic sectors such as education, health, social development and municipal services; noting that the actual expenditures during the first quarter were 19% of the total estimated budget during the year.
Al Jadaan said that deficit in the first quarter amounted to SR 26.211 billion, a decrease by 71% compared to the deficit of the same period last year.
He affirmed that the trend to issue quarterly reports on the performance of the state's budget reflects serious efforts to enhance transparency and financial disclosure.
He noted that the quarterly report on the first quarter, which contains better indicators than the initial estimates, shows the remarkable progress achieved in our efforts towards achieving a balanced budget.
He also stressed that the package of economic reforms adopted by the government in the fiscal balance program has helped to generate new revenues and diversify sources of income, saying that these policies have played an important role in activating policies of the spending efficiency and arranging citizens' priorities and needs and basic services being provided for them.
Al Jadaan also pointed out that the kingdom is firmly on the right track towards building a solid economy, more stable and diversified, and less affected by the fluctuations of global markets, especially in the oil sector.
"We continue to work on the issuance of periodic reports to publicize the progress we are achieving and shed light on the exerted efforts to implement measures and procedures that can make a quantum leap in social and economic aspects,” he said.

Source: BNA

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 arabia q1 total revenues sr 144076 billion up 72 saudi arabia q1 total revenues sr 144076 billion up 72

 



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 arabia q1 total revenues sr 144076 billion up 72 saudi arabia q1 total revenues sr 144076 billion up 72

 



GMT 16:17 2018 Thursday ,30 August

Five Saudi women pilots granted GACA licences

GMT 23:35 2017 Wednesday ,11 October

EUPOL COPPS appoints new EU head of the police mission

GMT 23:19 2017 Wednesday ,27 September

Iran big obstacle to regional peace

GMT 09:40 2017 Monday ,08 May

ADX launches New York roadshow

GMT 13:55 2011 Saturday ,18 June

American output picks up

GMT 09:23 2016 Thursday ,11 February

Paris, Frankfurt stocks markets dip more than 3%

GMT 13:44 2013 Sunday ,28 April

Egyptian information chief resigns

GMT 14:08 2012 Monday ,06 February

Spark tablet runs Linux

GMT 14:27 2017 Thursday ,24 August

Rising tennis stars in the US Open spotlight

GMT 03:03 2012 Friday ,27 April

10 unusual winter travel destinations

GMT 15:44 2012 Sunday ,02 December

Store sells solid gold tree

GMT 16:48 2017 Tuesday ,17 October

HRH Premier receives outgoing Iraqi ambassador

GMT 11:30 2017 Tuesday ,21 March

Al-Basher Receives Messages from Erdogan

GMT 08:32 2017 Saturday ,07 October

Saudi FM praises his country’s relation with Russia

GMT 00:37 2018 Wednesday ,24 January

Bitcoin slumps below $10,000

GMT 08:11 2018 Tuesday ,16 January

Philippines' Mayon volcano alert raised

GMT 14:03 2018 Saturday ,13 January

IGCF to Debate Impact of Digital Age

GMT 20:15 2018 Tuesday ,09 January

ADGM and Bahrain EDB agree to collaborate on fintech

GMT 13:24 2017 Monday ,20 March

Luis Enrique, Pique marvel at prolific Messi

GMT 11:28 2017 Saturday ,29 April

Artist Maia Diab denies retirement
Emiratesvoice, emirates voice
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice