Three royal decrees on the national budget for the fiscal year 1432AH - 1433AH. as well as the Cabinet's decision approving the budget were issued here today. Following are the texts of the royal decrees: "On behalf of the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud, We the Deputy Custodian of the Two Holy Mosques Prince Sultan bin Abdulaziz Al Saud decree the following: The first royal decree estimates the state revenues for the fiscal year 1432AH - 1433 AH at SR 540,000,000,000 and expenditures are allocated at SR 580,000,000,000. The Minister of Finance is authorized to withdraw from this account to replenish the expenditures for the projects currently financed from the surpluses of the fiscal years extending from 1424AH to 1428 AH. Had the budget yielded a surplus, the authorities should transfer it to the state reserves. No withdrawals are allowed from it unless authorized by a royal decree. The Minister of Finance is authorized to borrow and transfer from the state reserves, as deemed necessary, to settle public debt and cover the budget deficit. --More
