Al-Jadaan: rationalization of spending efficiency has achieved savings of 500 billion riyals

Saudi Finance Minister Muhammad Al-Jadaan said the discrepancy in the performance actual total expenditure relative to budget estimates decreased by one media by 16% in the period between 2014 and 2016 to one media by 4% between 2017 and 2019, in addition to efforts to increase and rationalize the efficiency of spending that helped to make savings in Costs have exceeded 500 billion riyals in the last four years to the half of quest’year.

He added that the Kingdom has made a big leap in the field of digital transformation.

He explained that the share of electronic transactions in total payment transactions available in 2019 was 36%, exceeding the target level for 2020 estimated at 28%.

Al-Jadaan pointed out that the indirect loan initiative has helped to finance small and medium-sized enterprises with estimated amounts in 642 million riyals to serve 611 small and medium-sized enterprises.

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