2007 Speech

King Abdullah’s address announcing the State budget for FY 2008
Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz address announcing the State budget for FY 2008 at the weekly Cabinet meeting, December 10, 2007

In the name of Allah, Most gracious, Most merciful, Brother and Sister citizens, Peace be upon you.

With the grace of Allah Almighty, we would like to announce the budget of the new fiscal year 1428-1429 AH, which amounts to SR 410 billion, which is the highest in the Kingdom and exceed the budget of this current fiscal year by SR 30 billion.

In this blessed budget, God willing, we have taken into account continuation of directing resources which Allah Almighty bestowed on our dear country for spending on fields which enhance sustainable development and preserve what has been accomplished within the framework of the policies and goals that are included in the Eighth Development Plan in a manner matching priorities that have been decided by the Supreme Economic Council and in a manner that achieves balanced development.

Following to what has been accomplished in recent fiscal years, the human development sector and improving its efficiency in various domains which include higher and general education and training, especially in the areas of sciences, technology and data, supporting scientific research and technological development, more than a quarter of the new budget appropriations were allocated for these sectors. One of the most notable development in this sector was the project of training teachers, development of syllabus and improvement in the educational environment in addition to universities, institutes and technical and vocational training centers in which we took into account the importance of balanced distribution so as to promote the performance of our sons and daughters and prepare them to go ahead on the path of developing our country.

In order to complete the basic infrastructure projects in this sector, the new total cost of their implementation amounted to nearly SR 39 billion. This includes costs of building schools, universities, institutes and training centers.
"In the health sector and social development, an approximate amount of SR 44.5 billion were allocated in order to raise levels of primary, secondary and specialized health care. We also continue to support programs addressing poverty, and giving attention to sports and youth. In this sector, the budget included new projects for the establishment of several hospitals and primary care centers and medical colleges and university hospitals and the implementation of some additions to the existing hospital buildings and the hospitals which are under implementation to provide them with advanced equipment, as well as to implement the many sports facilities and the houses of social care.

In realization of the paramount importance of the judicial organs, we have allocated an additional amount of SR 7 billion for the development of the judiciary and to enhance the requirements of these organs, which include the implementation of the "judicial system" and "the system of the Grievances Court and the executive working mechanism for each of them that we approved during the blessed month of Ramadan this year.

Out of our keenness on the sectors of water, municipal services, agriculture, industry and basic installations, an approximate amount of SR 45 billion was allocated. In these sectors, new projects and additional funds whose implementation cost is estimated to be SR 27 billion. These projects include schemes for drinking water, conservation and development of water resources, environmental protection, safety of food and medicine, and the provision of sewerage services, and dams and digging wells, in addition to municipal projects and projects that help boost domestic investment and attract other investments.

In the transport sector, there has been the adoption of new projects and additional appropriations for the implementation of new highways, both dual and single tracks, ports, railways and airports' projects, whose implementation costs exceed SR 14.6 billion.

Before we conclude this speech; we assure the male and female citizens that this blessed budget's appropriations reflect the attention we give to all sectors and to enhance reserves to provide more stability in the future.

Finally, we wish all those in-charge of the implementation of this budget, should bear in mind sincerity and double efforts to work for the benefit of citizens and contribute to accelerate the wheel of the comprehensive development of our dear country.
We pray to Allah Almighty to perpetuate bounties and benefit the country and the citizens with this budget.

Peace be upon you.