The New Budget Confirms our Government's Keenness to Continue the Process of Development

Dec. 19, 2018  |   Academics

سهل عبد الجواد
H.E. Dr. Sahel N. Abduljauwad

The Rector of King Fahd University of Petroleum & Minerals, Dr. Sahel N. Abduljauwad, said that the Kingdom’s general budget for the fiscal year 2019 affirms the soundness of the economic approach adopted by our wise government under the leadership of the Custodian of the Two Holy Mosques King Salman Bin Abdulaziz and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, may Allah preserve them, and that our country is moving in the right direction in terms of its vision and desired goals. The budget items emphasize the keenness of our wise government to continue the process of development and to achieve the objectives of the Saudi Vision 2030 through the continued growth of the national economy and focusing on the diversification of the economic base and sources of income.

The new budget, which is considered the largest in the history of the Kingdom, confirms progress on the economic, developmental and social levels. The budget includes increasing oil and non-oil revenues, continuing the implementation of programs to achieve the Saudi Vision 2030, improving the level of services provided to citizens and enhancing the role of the private sector as a strategic partner in the process of development.

The budget shows that the financial and economic performance has improved significantly. It confirms our government's drive to promote economic growth, achieve comprehensive and balanced development, and fulfill appropriate economic growth rates."

Dr. Abduljauwad said the new budget shows that our wise government is moving forward on the path of economic reform, controlling financial management, enhancing transparency, empowering the private sector and ensuring that all services provided to citizens are distinct.

He pointed out that the budget items showed the government’s interest to achieve comprehensive development in all regions of the Kingdom by establishing a strong economic base that increases the rates of development and achieving record levels of progress.

The size of the new budget is a clear indication of the strength of the Saudi economy. It improves the levels of government performance, enhances the efficiency of spending, adopts the highest standards of transparency, implements comprehensive reforms and promotes economic and social development.

The interest in the education sector confirms the deep conviction in the role of this sector in the achievement of human development and molding human beings with science and knowledge who are able to keep up and transcend the latest developments in science and technology.

Through this budget, KFUPM hopes to develop its academic and research performance, to reach the optimal goals of its system of innovation, leadership and technology that has been initiated, develop the social role of the University and to implement its strategic vision in line with the Saudi Vision 2030. A range of initiatives and programs have been implemented to enhance KFUPM participation in achieving this vision through strengthening the competencies of its graduates with global skills, leadership in the fields of energy, environment and water, and to expand the impact of innovation and entrepreneurship.

In conclusion, He prayed to Allah to preserve the Custodian of the Two Holy Mosques King Salman Bin Abdulaziz and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, and to preserve our country's security, stability and prosperity under the wise leadership of our wise government.