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FISCAL AND MONETARY POLICIES
FISCAL POLICY
The goals of the Saudi fiscal policy during the sixth development plan 1995-1999 are the following:
Achieving a positive GDP growth rate and creating new job opportunities. Sustaining the standard of living by maintaining a low rate of inflation that is below the rate of economic growth. Directing government expenditure towards the expansion and diversification of the Kingdom’s economic base and improvement of public services.
MONETARY POLICY
The objectives of the Kingdom’s monetary policy are:
Maintaining stable prices in order to achieve sustainable economic growth. Sustaining the exchange rate of the Saudi Riyal in order to strengthen the Kingdom’s balance of payments position. Securing stability of the banking system and enhancing its efficiency. Ensuring stability and systematic growth in the domestic and capital markets. Ensuring reasonable liquidity in the economy so as to avoid inflation and achieve balanced growth.
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