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Al-Mowkley: Saudi Budget 2020 reflects management sustainability and expenditure control towards Vision objectives

The CEO of the National Water Company (NWC), Eng Mohammed bin Ahmed Al-Mowkley, said that the 2020 budget expenditure volume of SAR1.02 trillion is indicative of effective financial management sustainability and controlled spending on supporting the realization of Saudi Arabia's development objectives in line with its futuristic Vision.

"The budget figures show the successful results of the economic reforms, optimal utilization of resources and competitiveness of the national economy that is projected to achieve a growth of 2.3 percent, exceeding the IMF projections, in addition to the planned diversity in investments and high standards in the implementation of transparency and disclosure policy despite the global economic challenges", he added.

Al-Mowkley stated that government's care for citizens' prosperity is evident in the resolution to extend the cost of living allowance for another year, increasing the quality of life and the attractiveness of business environment, attracting foreign capital, boosting the increasing non-oil revenues and benefiting from the economic pillars. This has been clear in the late successful public offering of Aramco and the positive results achieved by many economic sectors, which proves the success and soundness of the financial policies towards sustainability and more integration between the public and private sectors.

As the budget incorporates a wide array of programs and initiatives, CEO said, its figures boost trust in the national economy. The NWC, with the direction and follow-up of HE Eng Abdulrahman Abdulmohsen Alfadley, Minster of Environment, Water and Agriculture, continues to reap the benefits of these economic factors to achieve the initiatives of the water sector as part of NTP 2020 with the aim of improving customer services and the implementation of projects, controlling expenditure and utilizing the best practices and latest global technologies in the water sector, in addition to wise management of water resources.

Al-Mowkley concluded by congratulating the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, and Crown Prince Muhammad bin Salman for the budget announcement, referring to the royal extensive speech that expressed the government's care for the welfare of citizens and prosperity of the company. He also prayed for their success and for the stability and continuous growth of the country.