Norway

The Saudi Arabia government published Vision 2030, which defined a journey for a deep and ambitious socio-economic change in the Kingdom. Subsequently the National Transformation Program also set out specific commitments of Government Ministries and other Entities for the period up to 2020. Achieving budgetary balance is one of the specific goals of the Vision; and the NTP also commits to strengthening financial governance, increasing non-oil revenues and improving spending on programs and projects.As one of the Executive Programs announced in the Vision, the Fiscal Balance Program will be a key component in developing a more effective government, by providing intense scrutiny of government finances and acting as a spur to increased efficiency.

Note: World Economic Situation and Prospects, 2021 update available here: https://knoema.com/WESP2021/