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  • 12-12-22

    Saudi Finance Ministry urges for advanced private contribution as it studies next year budget

    (MENAFN) The private industry is believed to be a vital driver in growing Saudi Arabia’s gross domestic output and aiding it become a productive economy, as stated by Saudi Finance Minister Mohammed Aljadaan throughout the 2023 Budget Forum held to study the performance of the administration for this year.

    The two-day occurrence that started yesterday (Dec. 11) was joined by a number of 30 representatives from the administration and private speakers to talk about the effect of administration facilities on peoples as well as the private industry besides talking about the programs and upcoming ventures of the entities present.

    Saudi Minister of Economy and Planning Faisal Alibrahim accepted that the private industry has an important part to play in the long run, bearing in mind that it’s a main propeller of the nation’s financial growth.

    Whereas 60 percent of the nation’s population is below the age of 30, he noted that 41 percent are under 25 years old, which is a chance to establish fruitful elements.

    “The public finances are somewhat independent, but as oil prices fluctuate, we try to keep them stable by controlling spending,” the minister also stated.

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