A Statement by His Excellency the Governor of the Saudi Arabian Monetary Agency,

Dr. Fahad bin Abdullah Al-Mubarak

On the Occasion of Issuance of the Kingdom's Budget of 1434/1435 H.

The budget of the year 1433/1434 H. and the budget estimates of the year 1434/1435 H. emphasize the fiscal position of the Kingdom and its keenness to continue spending on economic and human development.

According to preliminary figures, the Kingdom continued to achieve good budget surplus, strengthening its financial capacity to continue spending on development projects. Budget allocations for the year 1434/1435H. show a focus on human capital development and enhancement of infrastructure and an increase in spending on both sectors. It is expected that all this will further economic growth, which will be reflected positively on the living standards of the people of this country.

The efforts of the Kingdom, under the leadership and guidance of the Custodian of the Two Holy Mosques and his Crown Prince, in financing the development boom of the country, are supported by domestic financial institutions which play a key role in development, particularly in financing and fulfilling the needs of economic and social activities.

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