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Finance Minister Muhammad Al-Jadaan said that until the end of last August the Ministry of Finance, through the digital credit platform, had received more than 623,000 payment orders, worth more than 575 billion riyals.
He explained that disbursement procedures amounting to around 568 billion riyals were completed within 15 days, a rate of over 98% of the value of payment orders received, adding that efforts to increase and streamline Spending efficiency has helped achieve cost savings exceeding 500 billion riyals over the past four years, up to mid-AD 2021.
Al-Jadaan pointed out that the state’s public finance deficit levels were controlled from 15.8% in 2015 to 4.5% in 2019, are expected to reach lower levels in the 2021 budget of the current year. after the decline in the financial and economic effects of the Corona pandemic, as a result of initiatives to develop non-oil revenues.
He noted that the total number of companies and funds listed on the Saudi stock market rose 7.6% to 213 companies, from 198 companies at the end of 2017, bringing the property value of foreign investors to the Saudi Arabian financial market of 195.9. % to reach 208.3 billion riyals by the end of 2020.
He added that the volume of transactions in local secondary debt markets increased by more than 70 billion riyal last year, compared to 10 billion riyal in 2019, and that the indirect lending initiative has helped finance. small and medium-sized enterprises with amounts estimated at 642 million riyals. to serve 611 small and medium-sized businesses.
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