A transparent and realistic budget: Citizens

JEDDAH — Commenting on the general budget, which was unveiled on Monday, a number of citizens who spoke to the local media said it was transparent and realistic. Speaking to Al-Riyadh newspaper on Tuesday, a number of businessmen in Makkah said the budget was a message of reassurance about the strength of national economy. They said the expenditure provisions on services and development were a further confirmation that the government will continue its steady spending on development projects. “The budget was a further confirmation that the government was determined to continue the process of sustainable development,” said, Adil Bin Amin Hafiz, a businessman. He said sufficient funds were allocated to the sectors of health, education, water, roads, basic infrastructure, employment and others. “The budget will help the government keep up the current level of prosperity, modernize society and maintain the rapid pace of educational and technological progress for the welfare of future generations,” he said. Khaled Al-Hassawi, another businessman, said the budget was a proof that the Saudi economy was not adversely affected by the global economic and political crises. He said the budget carried a number of comprehensive remedies that will withstand the impact of recession which was imported from outside. Hassawi believes that the budget represents an aggressive financial policy aimed at boosting the growth and providing more job opportunities for Saudi men and women. Youssef Al-Ahmedi, another businessman, said the budget was a reassuring message to the citizens that their economy was strong and viable despite the global financial problems. “The allocations for services and basic infrastructure are an indication that the government is focusing on the welfare of citizens,” he said. Al-Sharif Mansour Al-Rayyash said the budget reflected the determination of the government to continue its comprehensive development process to boost the standard of living and improve the quality of life. Sami Al-Nuwaissir, an economic analyst, said the deficit was much less than what was expected. “The deficit in the GDP will never reach 16 percent which is a very low ratio compared to other countries of the world,” he said. He said the deficit will be covered from the local market and the reserves. “The surplus in the local market is much more than SR480 billion,” he added. Mohammed Bin Daleem Al-Qahtani, professor of economics at King Faisal University, agreed that the deficit was less than projected and said the Kingdom’s economy was capable of rationally dealing with any crisis. “Though the revenues were less than in the previous years, yet the economy remains to be strong,” he said. Labor Minister Mufrej Al-Haqbai said the budget was a clear expression of the determination of the Custodian of the Two Holy Mosques King Salman to ensure prosperity and well-being of citizens regardless of the foreign economic challenges. “The rise in non-oil revenues is an indication of the strength of the Saudi economy,” he said.