Four Saudi ministers said: The financial strength of the kingdom is not related only to the public debt or the level of deficit, but to government reserves, and the ministers confirmed – yesterday during the sessions of the 2021 Budget Forum, and the forum business sessions began with the participation of a number of Excellencies that the Saudi government was able to deal with the crisis in a manner. Fast, and that the year 2020 was an exceptional year by all standards, not for the Kingdom, but for the world, stressing that the Kingdom aims to reach the 20 best countries in food security.
Minister of Commerce: Do not be complacent in punishing violators
The Minister of Trade and Investment, Dr. Majid Al-Qasabi: The state fights greed, and does not tolerate punishment of violators, indicating that the Ministry of Trade carried out more than 370 thousand control rounds during 2020 and seized more than 5,000 price violations, and Al-Qasabi indicated that 36,447 thousand stores have been established. During the Corona pandemic, an increase of 171% over last year, and he indicated that during the pandemic many opportunities were generated from it, as much as there were supply chains that generate opportunities for entrepreneurs, pointing out that more than 36,000 stores were opened in just 9 months.
Minister of Environment: Supporting the Agricultural Fund by two billion riyals
The Minister of Environment, Water and Agriculture Abdul Rahman Al-Fadhli revealed that all sectors of water production will be allocated, and that the citizen can contribute to it. He said: What we have built exceeds what has been built in 40 years, and announced a food security strategy to confront the crisis, and the Food Security Committee was formed, and it was completed. Identifying 11 basic commodities during the crisis that were focused on and their abundance, and 10 billion m3 of water was saved as a result of the implementation of the decision to prevent fodder cultivation, stressing that the market needs of national products were met, indicating that the Agricultural Fund was supported by two billion riyals during 2020.
Al-Fadhli emphasized raising the percentage of self-sufficiency in some products, such as chicken, from 42% to more than 65%, and vegetable products, reaching 65%, indicating that the Kingdom aims to reach the 20 best countries in food security, and that what is being implemented now of water production stations in the institution Public water desalination and other sectors exceeds what the Kingdom has built in the past 50 years, and the first session entitled “Budget trends and spending priorities for human health” was attended by the Minister of Finance, the Acting Minister of Economy and Planning, Muhammad bin Abdullah Al-Jadaan, and the Minister of Health, Dr. Tawfiq bin Fawzan Al-Rabiah. .
Minister of Transport: The Kingdom’s supply chains are solid
The Minister of Transport, Eng. Muhammad Al-Jasser, indicated that the performance of the ports during the Corona pandemic was strong, as they witnessed an increase in the number of containers that arrived or exported from the Kingdom by 5% despite the decline in global trade, and added during the Budget Forum 2021: The supply chains of the Kingdom were strong and relevant. High flexibility, indicating that the logistical services via aircraft were of outstanding performance, as about 65,000 tons of food and medical supplies were transported via airplanes during the pandemic, indicating that the movement was intensified on cargo flights and additional flights were scheduled, which was reflected in the supply situation and the safety of supply chains. .
Minister of Finance: The kingdom’s financial strength with government reserves
Finance Minister Muhammad Al-Jadaan said: The year 2020 was exceptional by all standards in the world, not only in the Kingdom, noting that the Kingdom’s Vision 2030 journey, which began four years ago, appears to be preparing for a crisis such as the Corona pandemic, and the accompanying very big shock in energy markets as a result of the decline Demand, and consequently lower prices and lower revenues, and as a result of the programs that we have started, we have achieved very great successes, both in terms of financial control, raising the efficiency of spending and investment in infrastructure, industry, and new promising sectors that provided more jobs that enabled the Saudi economy to deal with the shock financially.
Al-Jadaan added: “The first priority was the health of the citizen and the health of the resident. We redirected a number of expenditures in the budget for the year 2020 to the health sector, and we supported the economy and jobs for citizens through the SANED initiative. Small and medium enterprises were also supported,” indicating that the Saudi Central Bank intervened in a manner. A major in the financial sector and provided liquidity, as it enabled the banks to reschedule the debts, and the government was able to react very quickly to the crisis, and decisive decisions were taken at the beginning, and a high crisis committee was formed headed by His Highness the Crown Prince and quick decisions were taken to contain the crisis at the beginning and restore and open activities. He added: During the past four years, the budget deficit has been reduced from 17% to 12% to 9%, noting that the Kingdom, with the onset of the Corona pandemic, was accompanied by a decrease in oil revenues, which prompted the Kingdom to increase spending and debt, pointing out that the 2021 budget was announced During which the national debt market in the Kingdom has been greatly deepened during the past three years, it is useful that this year, the local market has been efficiently resorted to. Governmental precautions, as there are large investments through the Public Investment Fund, which is very important for future generations to absorb any external shocks, citing a request for cash distributions from the Public Investment Fund and cash distributions from reserves in the Central Bank to counter such shocks, indicating that there is no intention to use them Always, but only in traumatic situations like this year.