Trump trial attorney frustrated over gag order argument    Saudi Foreign Minister participates in EU-GCC forum, discusses Gaza and regional security    Cabinet approves opening UBS AG Bank of Switzerland branches in Saudi Arabia    MECOTEC forays into Saudi Arabia bringing cryo technology catering to diversifying health and lifestyle trends    Tragic mid-air collision during Malaysian military exercise results in 10 fatalities    AI company aiming to solve teacher shortage crisis    Driving innovation and sustainability: An interview with Mohammed Salem AL Ojaimi, Chairman of AL Ojaimi Industrial Group    Australian PM calls Elon Musk an 'arrogant billionaire' in row over attack footage    Diabetic Delhi leader finally gets insulin jab in jail    Tourism Ministry shuts 67 erring hospitality facilities in 3 months    Saudi Arabia announces recalling 33,350 Toyota Land Cruiser and Lexus cars over transmission issue    NCM study: Frequency of rainfall will increase throughout Saudi Arabia in future    Spice Girls reunite at Posh's 50th birthday    Swedish rider Eckermann wins 2024 Show Jumping World Cup in Riyadh    Aspiring fencer Josh Brayden aims for Olympic glory    Revenues touch SR3.7 billion in Saudi cinema sector since 2018    PIF partners with Mutua Madrid Open to elevate global tennis    Beijing half marathon: Top three stripped of medals after investigation    Taylor Swift releases surprise double album    Al Ain ends Al Hilal's record streak with a 4-2 win in AFC Champions League semi-final    JK Rowling in 'arrest me' challenge over hate crime law    Trump's Bible endorsement raises concern in Christian religious circles    Hollywood icon Will Smith shares his profound admiration for Holy Qur'an    We have celebrated Founding Day for three years - but it has been with us for 300    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Saudi Arabia Adopts Stimulus, Privatization to Raise Revenues, Reduce Expenses
Published in Saudi Press Agency on 18 - 07 - 2017

A specialized economic affairs' magazine noted a number of incentives, initiatives and plans that are currently adopted by the pertinent authorities, in the Saudi economy aimed at raising revenues, saving expenditures and supporting the general financial conditions, affected by the fall in oil prices.
An economic report published by Al-Eqtisad Journal, published by Al-Sharqiya Chamber, in July 2017 issue, reported that the government has managed to cut costs by $ 4.5 billion, in the first quarter of this year, a figure that exceeds expectations and fully reflects cost reduction potential and provides for significant savings, in the future, according to the report.
The report entitled "The Saudi Economy on the Track of Stimulus" features a new road map that seeks to counter fluctuations of oil and its variables by stimulating and encouraging all sectors of the Saudi economy to be present in figures, a multi-resource economy playing yard.
Saudi Arabia is open to understanding the experiences of developed countries, in the economic reform, so it will spend SR 200 billion to revive and grow the national economy, in four years, through the launch of the parallel financial market "Growth" which comes within the efforts of activating the movement of companies to prepare for public subscription, drawing attention to the efforts of a number of ministries and government agencies concerned with the economy and planning to develop a short-term roadmap for revamping the private sector and put the growth rate of the sector to 65% in 2030, making the Kingdom the 15 strongest economy in the world, growing at 10% per annum, the report concluded.


Clic here to read the story from its source.