Friday, 24 Jan 2020

We Will Continue Building, Progress as the Budget for the Year 2020 Enhances Vision 2030 Objectives, says HRH Crown Prince

Riyadh, His Royal Highness Prince Mohammad bin Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister and Minister of Defense whos is also Chairman of the Economic and Development Affairs Council, lauded the lofty implications of the speech of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, on the occasion of the issuance of the State Budget for the Fiscal Year 2020 and his keenness on the implementation of economic reforms.

HRH Crown Prince stressed that the stage of economic transformation adopted by the Kingdom's government is progressing, at a steady pace, according to the Kingdom's Vision 2030 as the budget has come to reinforce the commitment to implement reforms, plans and programs aimed at achieving what was included in the strategy, as it sets specific goals and multiple domains to achieve a vibrant society, a prosperous economy and an ambitious homeland.

He stated that the government is working to raise the standard of quality of life for the citizen, through efforts in developing and diversifying the economy, improving job opportunities and enhancing the effectiveness of government services, and that this be in light of financial and economic stability, which is the main pillar of sustainable economic growth.

HRH Crown Prince also clarified that the economic and structural reforms that have been implemented during the past three years have begun to make positive effects, on the actual financial and economic performance.

The Kingdom has, grace to God, recently achieved a remarkable increase in the real GDP growth rates of the non-oil sector, and the government has worked to enable the private sector to carry out its main role in the economy, with positive indicators and a number of business sectors registered distinctive positive growth, HRH Crown Prince elaborated.

The government has also implemented major projects in vital sectors and various activities that, with God's help, will contribute to achieving the goals of economic activity and developing job opportunities for citizens, he said.

HRH Crown Prince stressed the importance of engaging with the private sector as a major and vital partner in development in the Kingdom, noting the ongoing reforms undertaken by the government in developing the business climate and creating an attractive environment for investors to contribute to promoting economic growth, resulting in a significant improvement in the Kingdom's ranking, in terms of the international indicators concerned with competitiveness and easiness of doing business.

Source: Saudi Press Agency

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