Custodian of the Two Holy Mosques Chairs Cabinet’s Virtual Session, Approving State General Budget for Fiscal Year 2021 NEOM 3

  • Date: 16-Dec-2020
  • Source: Saudi Press Agency
  • Sector:Economy
  • Country:Saudi Arabia
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Custodian of the Two Holy Mosques Chairs Cabinet’s Virtual Session, Approving State General Budget for Fiscal Year 2021 NEOM 3

NEOM, Dec 15, 2020, SPA -- The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud chaired today a Cabinet's virtual session, approving the State's General Budget for the fiscal year 2021.

At the outset, verses of the Noble Quran were recited, then the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud addressed the citizens, males and females, announcing the budget.

The following is the full text of the speech:

"In the name of Allah, Most Merciful, Most Gracious. Praise be to Allah, Lord of the worlds, and prayer and peace be upon the Messenger of Allah.

May Allah's Peace, Mercy and Blessings be upon you.

With help and guidance of Allah, we announce the budget of the next Fiscal Year 2021, continuing consolidating the procession of development and prosperity of our dear country, with an endorsed expenditure of the budget that reached SR990 billion, and estimated revenues of SR849 billion and a deficit of SR141 billion, or 4.9 per cent of the Gross Domestic Product (GDP).

The world has experienced a non-precedent pandemic of the Coronavirus that negatively impacted the world economy, and in the context of what have