Business & Money | Friday 23 December, 2016 7:21 am |

More than a third of Saudi expenses will be in two key emerging sectors: the education with more than SR200 billion, and the health and social development sector with SR120 billion.

The figures allocated for the education and health and social development sectors represent 36% of the total estimated budget.

The SR890 billion budget was divided on nine major sectors: SR200 billion for education, SR190 billion for the military and SR120 billion for health sector and social development sector.

The education sector’s budget covers new projects and the expansion of existing ones. The total cost added for the new and existing projects is SR2.3 billion, while spending will continue from this amount on projects that are currently being developed across all regions:

The development of the King Abdullah Bin Abdulaziz Public Education Development Project (estimated cost of SR9 billion) will continue through Tatweer Education Holding; almost SR 2.4 billion has been allocated for this purpose.

During the fiscal year 1437/1438, 411 news schools have been handed over across the Kingdom. Work is underway to deliver 1,376 educational facilities and schools.

Work continues to complete the renovation of girls’ colleges across different universities, with a total cost of more than SR5 billion.

The Custodian of the Two Holy Mosques’ Scholarship Program will continue; total number of students sent abroad to study under the supervision of the Ministry of (Higher) Education has exceeded 207,000 students including their companions. The annual expenditures of this program will amount to SR16.5 billion, which excludes scholarships for government agencies’ employees.

The sector’s budget includes a number of NTP initiatives with a total cost of more than SR6 billion. They are designed to achieve the national objectives of Vision 2030.

The SR120 billion Health and Social Development budget accounts for new initiatives and the completion of construction and equipping of hospitals and healthcare centers in all the regions across the Kingdom.

Work is currently underway to build and develop 38 new hospitals with a total capacity of 9,100 beds, in addition to two medical cities accommodating 2,350 beds.

During the current fiscal year 1437/1438, 23 new hospitals (4,250 beds) in various regions across the Kingdom were built.

With regards to social services, the budget includes the development of sports cities.