By Mohamed Abu Meleeh
Riyadh – Mubasher: Saudi Arabia is expected to announce next Monday an ‘expansionary’ state budget for the year 2016, said Said A. Al Shaikh, Shura Council member, and chief economist at the National Commercial Bank.
He added that state budget for 2015 may include a deficit between SAR 430 billion and SAR 450 billion
King Salman’s speech today at the Shura Council shows that the kingdom would continue spending on major sectors like education, healthcare and transportation, he added.
Al Shaikh also said the state budget will likely be slightly ‘expansionary’.
King Salman said today, in a speech to Shura Council, that Saudi Arabia managed to maintain its public debt levels.
“We all seek to boost gains and overcome obstacles,” he added. “Our economy maintained its actual growth rate despite economic volatilities and low oil prices.”
The king added that Saudi Arabia continues to coordinate with other GCC states to enhance their joint work, and plans to overcome all obstacles facing Saudi nationals.
