Saudi Arabia surged 18 places in the Open Budget Index which measures the transparency of budgets worldwide.

By Backend Office, Desk Reporter
    Saudi Arabia | Representational Image

    The Open Budget Index (OBI) is issued every two years to evaluate the transparency of government budgets around the world. The Index produced by the International Budget Partnership covers more than 100 countries.

    Saad Alshahrani, deputy minister for macro-fiscal policies, told that the performance of the country in the latest rankings reflects the efforts taken by the Kingdom’s leadership to boost the state of fiscal data in the country. He added that the Ministry of Finance had developed its fiscal systems to inform specialists, analysts, and citizens in a timely manner and allow the private sector and investors to plan progressively and make educated choices.

    “All of these measures contributed to a material and unprecedented shift in the levels of disclosure and transparency in the Kingdom, leading to an enhanced position on various international indicators and contributing to supporting domestic and foreign investment, as well as the credit rating of the Kingdom,”  – Saad Alshahrani, Deputy Minister for macro-fiscal policies

    Since the launch of the Kingdom’s Vision 2030, the Ministry has dramatically enhanced the availability of important financial and economic data along with the Saudi Arabian Monetary Authority and the General Authority for Statistics.

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