The minister of finance stressed that this budget represents an important phase of the Kingdom economic development where the cabinet, under chairmanship of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, approved on 25, April, 2016, the Kingdom Vision 2030. The Economic and Development Affairs Council is assigned to put necessary mechanisms and arrangements to implement this vision. The ministries and other governmental institutions are to take the necessary measures to implement this vision. The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud has delivered a speech on this occasion for the citizens in which he stressed that this vision aims to be our country a model for the world at all levels, hoping of all citizens to work together to achieve this ambitious vision. In line with the Kingdom Vision 2030, some ministries, agencies, institutions and public bodies were restructured in accordance with the requirements of this stage in order to achieve efficiency and effectiveness in the practice of the state institutions of their duties and functions as well as rising the level of services provided to beneficiaries in order to reach a prosperous future and sustainable development. The vision included a number of strategic objectives and indicators to measure outcomes and obligations. The minister of finance said that the budget of the next fiscal year 1438/1439H (2017) is estimated at SR890 billion which is higher with 8% of the size of the expected spending for the current fiscal year 1437/1438H (2016), which was SR825 billion. The budget took into account initiatives of the National Transformation Program in 2020 where SR42 billion are allocated for this program in 2017 in addition to the approved projects from the surpluses of the budgets of previous financial years and the needs of the economy to stimulate growth, especially in the private sector. --More 17:54 LOCAL TIME 14:54 GMT www.spa.gov.sa/w296550