Saudi Arabia: expansion, development and investment to be 20...| MENAFN.COM

Sunday, 04 December 2022 04:58 GMT

Saudi Arabia: expansion, development and investment to be 2018 budget focus


(MENAFN) A senior Saudi official of the finance ministry confirmed Monday that even though 2018 budget of Saudi Arabia set to be unveiled Tuesday is to exclude new taxes or reforms, it so it center its attention on investment, expansion and development.

During an interview, general director Saad al-Shahrani of the ministry's macro-fiscal policy unit declared "if there was to be a title for the 2018 budget, it would be the budget of expansion and development and investment."

He continued "it will also focus on capital and investment expenditure. The citizen and the private sector will have a big part of it and it will simulate the private sector."

However, he declared "we do not expect new reforms or new taxes" when inquired about the possibility of the budget including new reforms.

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