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Saudi Cabinet Keen to Continue Economic Growth, Comprehensive Development

Saudi Cabinet Keen to Continue Economic Growth, Comprehensive Development

Tuesday, 5 October, 2021 - 16:45
King Salman chairs a virtual cabinet meeting on Tuesday. (SPA)

The Saudi government stressed on Tuesday its determination to continue to forge ahead on the path of economic development and comprehensive development.

Custodian of the Two Holy Mosques King Salman bin Abdulaziz chaired the cabinet meeting that was held virtually amid the ongoing coronavirus pandemic.

The cabinet added that it will continue to preserve financial sustainability and implement financial reforms that would support economic growth and diversify its activities with the aim of achieving the Kingdom’s ambitious development goals.

King Salman briefed the cabinet on the telephone talks he held on Monday with Sultan of Oman Haitham bin Tariq in wake of the cyclone that struck the Sultanate and left at least 11 people dead. He also briefed the ministers on the message he received from US President Joe Biden that hailed the historic relations between their countries.

The ministers reviewed the Pre-Budget Statement for the Fiscal Year 2022, including the Fiscal and Economic Performance Report FY 2021. They also tackled the main fiscal objectives and economic indicators estimates for Fiscal Year 2022 over the medium term, as well as the key initiatives and programs that will be implemented during the coming fiscal years within the framework of the Kingdom’s Vision 2030.

In a statement to the Saudi Press Agency (SPA), Acting Minister of Media Dr. Majid bin Abdullah Al-Qasabi said that the cabinet reviewed the efforts to develop the tourism sector and increase its contribution to the GDP. It highlighted efforts to develop several tourist destinations in the Kingdom, including the recent launch of the Strategy for the Development of Aseer Region.

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