Full Remarks of Saudi Arabia's Alsheikh on King's Decreeby
Mohammed Alsheikh, a Saudi minister of state and a member of the cabinet, issued the following statement after King Salman decided to restore a number of allowances for public-sector employees.
- “The government has reviewed the measures initiated in the fall concerning the allowances program for public sector employees. The various fiscal adjustment measures taken over the past two years have resulted in better-than-forecast revenues and reduction in expenditures for the government budget. As a result, the Chairman of the Council for Economic & Development Affairs has recommended the reinstatement of a number of public sector employees allowances.”
- “The announcement comes in the wake of the considerably better-than-anticipated budgetary performance in the first quarter of 2017, which is driven by strengthened expenditure management and higher revenue inflows. As a result, the actual deficit for the first quarter of 2017 is about 50% of the projected deficit in budget due to increases on revenue side and decreases on expense side.”
- “From the macroeconomic perspective, the incremental increase of public sector workers’ disposable income will help to further boost positive sentiment as domestic demand recovers.”
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