Saudi Arabia’s Council of Ministers on Sunday approved the general budget for the fiscal year of 2022, with an estimated total revenues of SR1045 billion and spending of SR955 billion. Custodian of the Two Holy Mosques King Salman chaired the virtual session of the Cabinet that endorsed the budget with a surplus amounting to SR90 billion. While announcing the budget, the King reiterated the government’s determination to continue implementing economic initiatives and reforms to realize the targets of Saudi Vision 2030, as well as to develop the quality of life. On his part, Crown Prince Muhammad Bin Salman emphasized that the economic transformation journey adopted by the Saudi government continues to meet the achievements and targets. “The budget was a confirmation of the results achieved from economic and financial reforms aimed at promoting economic growth and financial sustainability towards a vibrant society, a prosperous economy, and an ambitious nation,” he said in a statement carried by the Saudi Press Agency.