By: Mohamed Idris
Riyadh – Mubasher: Saudi government will not impose taxes on citizens, residents or companies and will not surprise the private sector with any new policy beyond what was already announced until 2020, KSA finance minister said.
Mohammed al-Jadaan announced in a news conference on Thursday launching three programmes: the budget, financial balance 2020 and citizen account programmes.
The minister noted that the government will release periodical reports about the budget's development and figures, where the programmes will be available for everybody online.
Al Jadaan added that financial balance programme will explain how to increase spending efficiency and will commit to achieve the financial balance despite the challenges.
Citizen's account will offer specific money sums to citizens, the minister explained.
Al Jadaan pinpointed that the government kept its promises regarding paying the matured to the private sector and is obliged to pay them all in 60 days.
The government target lower deficit by 30% in 2017 compared to 2016, Al Jadaan said, expecting that non-oil revenues will achieve moderate growth compared to last year.
The minister said that the government aims that the budget would be reasonable and not to exceed what is allocated for it.
Translated by: Sara Ghali
