The Saudi cabinet reviewed on Tuesday the state’s general pre-budget statement for the 2024 fiscal year and its estimates and targets in support of the comprehensive development process in the Kingdom.
This includes improving the quality of services provided to citizens and residents and carrying on with economic growth and diversification while maintaining financial sustainability.
Custodian of the Two Holy Mosques King Salman bin Abdulaziz chaired the cabinet meeting that was held in NEOM.
The cabinet reviewed the two messages received by King Salman and Prince Mohammed bin Salman, Crown Prince and Prime Minister, from the presidents of Benin and Chad that focused on bilateral ties with Saudi Arabia.
In a statement to the Saudi Press Agency (SPA) following the meeting, Minister of Media Salman bin Yousef Al-Dosari said the Cabinet discussed the work of coordination councils' committees in which the Kingdom and several countries are taking part, and their initiatives aimed at strengthening joint work in various fields to meet the aspirations and interests of their peoples.
The ministers discussed the labor market indicators in the second quarter of this year, which showed a decrease in the unemployment rate among Saudis, to 8.3% compared to 9.7% in the same period of last year, as a result of the Kingdom’s Vision 2030 initiatives and programs, he added.
Al-Dosari said the cabinet sees the establishment of the first electric vehicles factory in the Kingdom as testimony to the success of Saudi Vision 2030, which focuses on diversifying the economy, attracting investment, ensuring sustainability and localizing modern technologies.