Eng Mohammed bin Ahmed Al-Mowkley, the CEO of the National Water Company, said that the announcement of the budget of the Kingdom of Saudi Arabia is a proof of the success of the plans and the well-studied spending in line with the Kingdom's Vision.
"The increase in next year's budget figures to SAR1.106 trillion while the actual spending this year was SAR1.030 trillion is indicative of a keen governmental support for developmental projects and a real interest in boosting economic growth in line with the Fiscal Balance Program."
The budget underlines the integrity of the fiscal approach which is based on boosting non-oil revenues, leveraging on the economic drivers and supporting current and future infrastructure projects. The water and environmental projects are among the good examples the sector is now working on to achieve its objectives in line with its initiatives for the NTP2020.
Al-Mowkley added that the budget's high figures are proofs of the completion of the elements for developing financial planning required to support government's economic targets and achieve integration between its sectors while benefiting from the efficient management and operation. This will directly affect performance quality and support economic reforms.
The budget proves the government's enormous capability to respond to spending challenges despite the global oscillating circumstances, especially in terms of oil prices to which the Kingdom responded by heading towards a more diverse and sustainable economy.
The NWC is going on in its journey to achieve its initiatives for the NTP to contribute to maximizing government's gains and objectives, and to drive the realization of the developmental requirements for water and environmental projects.