Saudi finance minister commends state's budget

The Minister of Finance Dr. Ibrahim bin Abdulaziz Al-Assaf commended the general state's budget for the fiscal year 1435/1436 estimating revenues and expenditures at SR 855 billion, an increase of SR 35 billion for expenditures and SR 26 billion for the revenues in comparison with the current year. He said in an interview with the First Saudi Channel yesterday evening that the revenues of the current budget amounted to SR 1,131 billion and expenditures exceeded the approved budget due to major projects amounting to SR 925 billion in addition to SR 18 billion, noting that the surplus in this year's budget is estimated at SR 206 billion . Dr. Al-Assaf announced that the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud has approved the use of part of this surplus to support some developmental and infrastructure programs and approved an amount of SR 24 billion to finance the so-called pivotal roads linking the Kingdom's regions. He also announced the King's approval of SR 10 billion for Credit and Savings Bank and SR 20 billion for the General Investments Fund to finance railway networks.