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  • Saudi Finance Minister Mohammed al-Jadaan Said the Kingdom Is Committed to Regional De-Escalation

    Saudi Finance Minister Mohammed al-Jadaan said the kingdom was working to prevent the Israel-Hamas war from derailing recent efforts at regional détente, which have included the resumption of Riyadh’s diplomatic ties with Tehran and movement toward normalization with Israel.

    “We have seen this in the region that before 7th of October a lot of de-escalation have happened which brought a lot of hope for the region and we don’t want the recent events to derail that,” he said at an investment conference in Riyadh. “So we are making a lot of efforts with our partners to ensure that we go back to where we were and continue the development path.”

  • Al-Jadaan: Government’s approach was a ‘good shock’ to private sector

    Al-Jadaan revealed that more than 99 percent of the government’s payments to the private sector this year were paid within 15 days, instead of 45 days as was the case of the payment system of the ministry. This enabled the companies to avoid bearing the burden of high rates of interest when they receive funds from financial firms to meet their operating expenses during the government payment maturity period. Saudi Arabia recorded a surplus of $27 billion (SR102 billion) during the current year of 2022, recording the first budget surplus in 9 years.

  • Al-Jadaan: Government’s approach was a ‘good shock’ to private sector

    “The good thing about it is that the Saudi private sector responded efficiently to this shock, and one of the positive repercussions of that is the diversification of the major businesses away from their traditional activities,” he said. Al-Jadaan revealed that more than 99 percent of the government’s payments to the private sector this year were paid within 15 days, instead of 45 days as was the case of the payment system of the ministry.

  • Al-Jadaan: No change in VAT, expat levy

    Saudi Arabia’s Minister of Finance Mohammed Al-Jadaan has said that there is no change in the value-added tax (VAT) or the levy for expatriate workers at present. In an interview with Al-Arabiya Television, Al-Jadaan stated that there is a decline in the impact of oil price volatility on the state budget and that the distribution of the 2022 budget surplus will take place only after the end of the fiscal year. “No portion of this year’s surplus will be used to repay public debt. The Public Investment Fund has sufficient liquidity and assets while SAMA’s reserves increased by about SR50 billion in 2022,” he said.

  • Al-Jadaan: No change in VAT, expat levy

    Saudi Arabia’s Minister of Finance Mohammed Al-Jadaan has said that there is no change in the value-added tax (VAT) or the levy for expatriate workers at present. In an interview with Al-Arabiya Television, Al-Jadaan stated that there is a decline in the impact of oil price volatility on the state budget and that the distribution of the 2022 budget surplus will take place only after the end of the fiscal year. “No portion of this year’s surplus will be used to repay public debt. The Public Investment Fund has sufficient liquidity and assets while SAMA’s reserves increased by about SR50 billion in 2022,” he said.

  • Saudi economy is capable of absorbing shocks: Al-Jadaan

    "Saudi Arabia anticipated the import crisis from Russia and Ukraine about 4 to 5 years ago and it took important measures in its food strategy", Al-Jadaan said. He indicated that the strategy taken by the Kingdom is that it has reduced exposure to Russia and Ukraine and diversified its import sources. Saudi Arabia has also raised its local production, which has put the Kingdom in a much better position than others, Al-Jadaan said.

  • WEF: Saudi Arabia Outlook With Margery Kraus, Abdullah AlSwaha, Mohammed Al-Jadaan, Faisal Alibrahim, Haifa Bint Mohammed Al Saud, Khalid Al-Falih

    As the largest economy in the Middle East, with ties to both China and the United States, Saudi Arabia is well-positioned to use its strategic relationships and hydrocarbon resources to stabilize volatile energy markets and advance economic recovery.

  • Saudi Arabia expects to post lower deficit in 2021: Al-Jadaan

    Since the launch of Vision 2030, the state’s public deficit was reduced from 15.8 percent in 2015 to 4.5 percent in 2019. Moreover, the Saudi government focused on enhancing financial planning, as the annual variance of the actual performance of expenditure came below its forecasts, down from an average of 16 percent in the period from 2014 to 2016, to 4 percent in the period from 2017 to 2019.

  • Saudi Arabia: Response and recovery – an interview with HE Mr. Mohammed Al-Jadaan

    Saudi Arabia: Response and recovery – an interview with HE Mr. Mohammed Al-Jadaan, Minister of Finance, Acting Minister of Economy and Planning, Kingdom of Saudi Arabia

  • Al Jadaan inaugurates Euromoney Saudi 2020 Virtual Series

    Euromoney Saudi 2020 launches with "Saudi Arabia: Response and Recovery". The series, “Saudi Arabia: Coming Back Stronger” is a collection of virtual events, welcoming as special guests senior Saudi policymakers, international investors, Saudi and regional financiers and corporate leaders.