Cabinet Issues Decision Regarding State’s General Budget for Fiscal Year 1444/1445 AH (2023)

  • 2/5/2023
  • 00:26
  • 5
  • 0
  • 0
news-picture

Riyadh, Dec 07, 2022, SPA -- The Cabinet issued today a decision regarding the state’s general budget for the fiscal year 1444/1445 AH (2023), as follows: First: State revenues and expenditures for the fiscal year 1444/1445 AH are estimated and approved in Saudi Riyal according to the following: 1 - Revenues are estimated at (1,130,000,000,000) one thousand one hundred and thirty billion riyals. 2- Expenses shall be approved in the amount of (1,114,000,000,000) one thousand one hundred and fourteen billion riyals. 3 - The surplus is estimated at (16,000,000,000) sixteen billion riyals. Second: 1- The surplus from the revenues of the state's general budget shall be transferred to the state's general reserve account. 2- The Minister of Finance is authorized during the fiscal year - as an exception from Paragraph (1) of this clause - to do the following: A - Allocating revenues collected in excess of the estimated amount or part of them and deposited in a current account of the Ministry of Finance, in implementation of Royal Decree No. (55685) dated 30/11/1438 AH and the directive contained in the Royal Court's circular No. 33901 dated 20/6/1442 AH, to government agencies whose revenues were estimated in this year's budget. B- Allocating direct revenues and their expenditures to government agencies whose regulations to finance their expenditures from their own revenues which were not included in this year's budget under a corresponding provision . C- Approving and adding incentives resulting from government agencies achieving an increase in their revenues, based on Royal Decree No. (15076) dated 8/3/1443 AH, which stipulates extending the mechanisms for developing government agencies’ revenues, and Article (5) of the State Revenue Law issued by Royal Decree No. (M / 68), dated 18/11/1431 AH. Third: 1 - In case that there are dues from previous fiscal years, the government agencies shall be obligated to disburse these dues by the end of the second month of the fiscal year 1444/1445 AH. To disburse these dues, necessary transfers in their budgets must be made, and the annual report of the government agency must include details of what has been accomplished. The General Court of Audit is required to monitor the government agencies’ commitment in line with this paragraph and submit a report in order to take the appropriate legal action against the violating agencies. 2- Taking into account the agreed expenditure ceiling, the Minister of Finance is authorized to procure and add the required allocations to pay dues that are not adequately covered by sufficient allocations in the state's general budget provisions. 3- In accordance with the rules and guidelines issued in this regard, the Minister of Finance is authorized to obtain and add the costs associated with tax differences in contracts, the costs associated with alternative contracts, the costs associated with judicial rulings against government agencies, or to adjust the prices of contracts or agreements, or to extend or transfer projects. 4- In accordance with the controls outlined in the instructions for implementing the state's general budget as well as financial and accounting instructions, the relevant minister or the head of the agency whose budget is attached to the state's general budget must submit all of its contractual obligations on the (Etimad platform), whether they are contracts or authorizations, including contracts and authorizations excluded from the government competition and procurement system. Additionally, the government agency's annual report must include information about the work that was done. The General Court of Audit is required to monitor the government agencies’ commitment in line with this paragraph and submit a report in order to take the appropriate legal action against the violating agencies. Fourth: Paragraphs (2-a), (2-b), (2-c) and (2-d) of provision (Fourth) of Royal Decree No. (M / 40) dated 4/30/1442 AH until the end of the fiscal year 1444/1445 AH, and paragraph (2-a) includes hedging contracts and agreements to manage public debt risks. The Minister of Finance is authorized to adopt the necessary policies in this regard. Paragraph (2-b) shall add any type of investment facilities and funds. Fifth: Work continues, with regard to the fiscal year 1444/1445 AH until its end, on provisions (second), (third), (fourth), (fifth), (sixth), (seventh), and (ninth), (twelfth), and (thirteenth) of Royal Decree No. (M / 39) dated 5/8/1443 AH, with the addition of government agencies that receive a subsidy from the state's general budget to Paragraph (1) of Item (Fifth), of that decree. Sixth: The Minister of Finance is authorized to approve and add incentives resulting from government agencies achieving savings in their budgets based on Royal Decree No. (52818) dated 14/9/1442 AH. Sixth: As per Royal Decree No. (52818) dated 14/9/1442 AH, the Minister of Finance is empowered to approve and include incentives as a result of government entities making budgetary savings. A draft royal decree has been prepared; its version is attached. --SPA 01:14 LOCAL TIME 22:14 GMT 0002 www.spa.gov.sa/w1823612

مشاركة :