National Budget of the Fiscal Year 1438/1439H (2017) This year’s budget represents an important milestone in the economic development of the Kingdom. In a meeting held on 25th April, 2016, chaired by the Custodian of the Two Holy Mosques, King Salman Bin Abdulaziz Al-Saud, the Council of Ministers approved Saudi Vision 2030 and tasked the Council of Economic and Development Affairs (CEDA) with establishing the systems and processes required to implement the Vision’s objectives and to monitor progress. Ministries and other government entities are expected to implement all necessary measures to achieve the Vision. In his speech, The Custodian of the Two Holy Mosques King Salman Bin Abdulaziz Al-Saud (God bless him) addressed all the citizens on this occasion, assuring them that the Vision focuses on achieving his primary objective: “For our country to be a pioneering and successful global model of excellence on all fronts”, and asked all citizens to work together to achieve this vision. CEDA has also established of a number of “enablers”, or entities that will support these programs, monitor progress, evaluate performance, identify any shortcomings and launch additional future programs. The enablers include the National Center for Performance Measurement (Adaa), the Spending Rationalization Office, the Non-Oil Development Unit, the Delivery Unit, and CEDA’s Project Management Office. In its first year, the NTP was launched across 24 governmental bodies in charge of economic and development sectors. The NTP includes phased targets for delivery by 2020. The 2017 budget was prepared in light of developments in the local and global economy, including the estimated price of oil. In addition, requirements were accounted for in a manner that will avoid large increases in spending and ensure a strong focus on financial control. Initiatives within the NTP are approved exactly as listed, excluding any new projects outside the NTP by entities belonging to CEDA. Projects by entities that are not under the supervision of CEDA have been estimated at a minimal value while taking into account the security and military situation. The Spending and Rationalization Office will continue to review capital and operational expenditure and is expected to increase spending efficiency in 2017. --More 19:41 LOCAL TIME 16:41 GMT www.spa.gov.sa/w296778