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UN Selects Riyadh to Host the Internet Governance Forum (IGF) 2024

General view of Riyadh city. Reuters file photo
General view of Riyadh city. Reuters file photo
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UN Selects Riyadh to Host the Internet Governance Forum (IGF) 2024

General view of Riyadh city. Reuters file photo
General view of Riyadh city. Reuters file photo

The United Nations has selected Riyadh to host the 19th edition of the Internet Governance Forum (IGF) in 2024.
The IGF is an annual event organized by the United Nations, bringing together global experts to discuss and formulate international trends and policies regarding the developments of internet governance in a collaborative manner between governments, the private sector, and non-profit organizations.
The Minister of Communications and Information Technology, Eng. Abdullah bin Amer Alswaha, affirmed that the Kingdom is leading international efforts to increase digital inclusion and bridge the digital divide worldwide.

It aims to contribute to building a thriving and inclusive digital economy for all.

This comes in light of the unlimited support received by the sector from the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and Prince Mohammed bin Salman, the Crown Prince and Prime Minister.

The Governor of the Digital Government Authority, Eng. Ahmed bin Mohammed Alsuwaiyan, pointed out that the United Nations' selection of Riyadh to host this global forum reflects Saudi Arabia’s leading role and efforts in maximizing the impact of digital infrastructure to achieve sustainable development goals and serve communities and business sectors.

The trust placed by international organizations in Saudi Arabia’s ability to host major exhibitions and global conferences confirms its position as an advanced country in the field of communications, information technology, and digital government. It also recognizes its excellence in various fields in line with the programs and initiatives of Saudi Vision 2030.

IGF brings together more than 160 countries and features over 1,000 speakers consisting of global experts and specialists. It hosts more than 300 sessions and workshops, in addition to awards, and cooperative agreements that will take place over five days. These activities aim to facilitate the exchange of expertise, success stories, and best practices in public policy issues related to the Internet.

The forum seeks to shape the future of the Internet and technology and build a secure digital future for all.

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Saudi Crown Prince: 2025 Budget Underscores Continued Spending on Basic Services

Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister. (SPA)
Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister. (SPA)
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Saudi Crown Prince: 2025 Budget Underscores Continued Spending on Basic Services

Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister. (SPA)
Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister. (SPA)

Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, said on Tuesday the preliminary statement for the 2025 state budget emphasized the continued enhancement of spending directed toward essential services for citizens and residents, as well as the implementation of strategic projects. He also stressed the focus on supporting economic growth and achieving sustainable development.

He made his remarks at a weekly cabinet meeting that discussed the latest developments in the region and the world, as well as the outcomes of regional and international meetings held in this regard.

The preliminary statement for Saudi Arabia's 2025 fiscal year budget projected total expenditures to reach approximately SAR 1.285 trillion, with revenues expected to be around SAR 1.184 trillion, resulting in a deficit of 2.3% of the gross domestic product (GDP).

The statement also highlighted the government's continued adoption of strategic expansionary spending policies aimed at supporting economic diversification and sustainable growth, as well as ongoing borrowing to meet the projected financial needs for 2025.

Experts told Asharq Al-Awsat that budget estimates for 2025 emphasize continued spending on basic services such as education, healthcare, social protection, and developmental projects. This will bolster social welfare programs that directly benefit citizens, as well as support the national economy's growth and resilience.

Dr. Ossama al-Obeidi, expert and professor of commercial law, said the 2025 budget focuses on accelerating the implementation of Vision 2030 projects and programs, while maintaining efforts aimed at ensuring fiscal sustainability, which includes achieving financial surpluses and diversifying revenue sources by continuing to boost non-oil revenues. This reflects the Kingdom's strategic approach to adapting to global economic changes, he underlined.

The budget allocation also includes strengthening the infrastructure of major sectors, creating more job opportunities for citizens, and improving the quality of life for the residents.

Finance Professor at the Imam Mohammad Ibn Saud Islamic University Dr. Mohammed Makni emphasized that the deficit in the 2025 state budget was limited, reaching around $26.9 million. He stressed that the Kingdom will continue its ambitious economic and development reforms, by supporting innovative projects across various sectors as part of Vision 2030.

Regarding the current year, “there is also a slight deficit in the general budget, but non-oil revenues are expected to increase by more than 3 percent,” according to Makni.

He said the main indicators focus on levels of consumer spending, which have been growing in the Kingdom, as well as unemployment indicators in the country, which have been declining in recent periods.

He further noted that the oil sector had been struggling during previous periods due to the policies adopted by OPEC and OPEC+, as well as the voluntary cuts implemented by the Kingdom. However, it is expected to recover between 2025 and 2027.

The Kingdom has adopted a policy of reprioritizing spending and focusing on projects that can be completed more quickly, so they can become a source of support for the national economy in the years leading up to 2030. These policies will also enable both foreign and local investors to expand and achieve their profitability goals.

Makni added that the reforms implemented by the Kingdom have become directly tangible and have led to significant improvements in many sectors at the level of systems and regulations.