The General Budget in the Kingdom of Saudi Arabia: Between Governance Requirements and Financial Sustainability

Abstract

Background: The general budget is the essential mechanism for implementing the public policies of the state and thus for achieving sustainable development at all levels, especially economic and social. In view of this importance, the issue of governance is raised as the most effective way to achieve the desired goals. In this context, the research seeks to highlight the role played by the public budget governance in the Kingdom of Saudi Arabia in reducing the fiscal deficit caused by the instability of financial revenues while controlling the public spending process and searching for non-oil resources. Methods: The research relied on the descriptive analytical approach to study the reality of the governance of the public budget management in the Kingdom through the analysis of national and international studies and reports, with the aim of preparing recommendations related to improving the state budgetary management. Results and Conclusions: This article produced results and recommendations that are evident in the fact that the management of the general budget in the Kingdom, although it has witnessed some improvement in the past years, still needs more effectiveness, transparency, and good performance. These are all considered to be the principles of governance in general and the public budget in particular. Therefore, these principles must be applied according to a mechanism consistent with the national legal and institutional specificities, as well as according to a time period that depends on performance indicators.