Riyadh - Mubasher: The Saudi minister of finance, Mohammed Al Jadaan demonstrated to the International Monetary Fund (IMF) the latest developments and reforms in the kingdom’s economy in line of the Saudi Vision 2030.
The ministry said in a statement on Monday that the minister headed the Saudi delegation to the annual IMF and World Bank meetings, held in Washington between 12 and 15 October, where he showed the efforts to improve the investment environment, support the private sector, and enhance investors’ confidence.
In order to reach these goals, the government is working on a number of economic and structural reforms, to enhance transparency, accountability, and governance, alongside the role it is playing in improving the public fiscal framework and managing the privatization programme.
The minister also referred to the Citizen’s Account, a household allowance scheme, which aims to diminish the impact of austerity policies on low- and middle-income Saudi families.
Last week, the minister said that Saudi Arabia aims at reducing the budget deficit to less than 10% of the Gross Domestic Product (GDP) this year.
