Montenegro temporarily exempts Saudi citizens from entry visa requirement    King Salman, Crown Prince condole death of Iran's President Raisi    Saudi Finance Minister leads delegation to Beijing for key economic talks    Minister Al-Khateeb: Saudi Arabia will become a global aviation hub    Al-Jasser: Reform in aviation rules to facilitate achieving 300 million passengers and 250 destinations    Iran declares five days of mourning for president    China hits back at US and EU as trade rows deepen    Taiwan's new president sworn into historic third term for ruling party    US reaches agreement with Niger to withdraw military forces by September 15    Elon Musk launches SpaceX's satellite internet service in Indonesia    Cloud Seeding Program plans to cover Makkah and Holy Sites using ground-based generators    Saudi Arabia bans import of vehicles from 20 automakers that failed to submit supply plan    Oleksandr Usyk claims undisputed heavyweight title in 'Ring of Fire' match in Riyadh    Saudi Arabia: The emerging cultural powerhouse shaping global soft power dynamics    Jorge Jesus praises Al Hilal's resilience after dramatic last-minute draw in Riyadh Derby    Star golfer Scottie Scheffler arrested over alleged assault on police officer    Saudi Arabia joins International Agency for Research on Cancer    Row erupts over portraits of Australia's richest woman    Al-Ittihad's victory drought continues, misses chance to qualify for ACL elite    Indian spices face heat over global safety concerns    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    







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Recent Economic Developments and Highlights of Fiscal Years 1435/1436 (2014) & 1436/1437 (2015) 2 Riyadh

government. In addition, efforts to rationalize current spending will continue, especially salaries, wages and allowances, which contribute to about (50) percent of total budgeted expenditures.
Appropriations
Appropriations for new and existing projects will be about SR 185 (US $49.3) billion, as follows:
Education:
Allocation of around SR 217 (US $57.9) billion, representing (25) percent of FY 1436/1437 (2015) total appropriations.
The new budget includes (164) new projects costing around SR 14 (US $3.7) billion and additions to existing projects costs of about SR 6.8 (US $1.8). Spending on all projects under construction will continue across the Kingdom according to their implementation phases, with more than SR 280 (US $74.7) billion from previous appropriations.
For General Education, the budget includes (500) projects for rehabilitating existing school buildings and (11) projects for rehabilitating existing sport centers, with an estimated of around SR 405 (US $108) millions.
For higher education, the new budget includes appropriations of around SR 12.3 (US $3.28) billion for completing and rehabilitating of college campuses in several universities and opening of (3) new universities. With regard to the scholarship program, the total number of students studying abroad reached over (207,000) students (including their dependents who are also supported by the government). Total expenditure on the scholarship program is estimated at SR 22.5 (US $6) billion, excluding scholarships for employees of government institutions.
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15:18 LOCAL TIME 12:18 GMT
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