The Saudi Ministry of Finance, represented by the Financial Skills Center, launched in Sunday, May 7, 2023, the fourth edition of the Budget Ambassadors Program. The event was attended by Chairman of the Steering Committee at the Ministry of Finance, H.E. Abdulaziz Alfuraih, along with a distinguished group of public finance and professional development experts, leaders and representatives from the Ministry, and budget experts from a number of international financial organizations.
H.E. Abdulaziz Alfuraih emphasized in his opening remarks that the financial sector's transformation journey began with a series of programs and initiatives launched under Saudi Vision 2030. “To achieve the targets of transformation in the financial sphere, it was essential to continuously design and develop programs aimed at enhancing skills and building knowledge in managing transformation elements," H.E stated, noting that several training programs were developed, the first being the Budget Ambassadors Program, followed by others in areas related to revenues, accrual-based accounting, and data.
H.E further pointed out that each edition of the program must be developed in line with the requirements of its stage. In this regard, the current fourth edition has been enhanced to incorporate aspects related to medium-term planning introduced as a new framework for budget preparation along with fiscal discipline and the transition to accrual accounting.
H.E pointed out that developing skills and ensuring their alignment with ongoing transformations is a journey that has begun and will never end. “The organizers of these programs will continue to monitor all improvement and enhancement requirements to ensure alignment between the objectives of transformation and its aspirations, and the capabilities and skills required to achieve them."
In conclusion, H.E. Abdulaziz AlFuraih emphasized: “This tangible impact of strengthening and developing skills would not have been achieved without the concerted efforts of all relevant entities, which we are honored to represent and belong to. From here, the importance of benefiting from the Budget Ambassadors Program becomes evident, as it prepares its participants to be ambassadors of change in their respective entities toward a better future for our children and our country." H.E. further affirmed that the success achieved in the past three editions reflects the scale of efforts exerted by the program's partners: the Deputy Ministry of Finance for Budgetary Affairs and the Financial Skills Center.
For his part, the Assistant Minister of Finance for Budgetary Affairs, Mr. Haitham Altraif, explained that this edition addresses the methodology for dealing with national-level strategic priorities from the perspective of budget preparation. These include aligning the budget preparation process with national objectives, ensuring effective government spending, and efficient project management. He also highlighted the role of the Government Expenditure & Projects Efficiency Authority, in continuing to support the achievement of spending efficiency and assisting government entities in the management of projects and facilities.
Meanwhile, the Chief Executive Officer of the Financial Skills Center, Mr. Abdullah Majrashi, reviewed the key features of the fourth edition of the program, noting that it is the largest so far in terms of participants, with 220 individuals from 70 entities taking part. He pointed out that its content has been updated to cover the most important initiatives in budget preparation, adding that numerous changes have been introduced to enhance the learning experience for participants, along with many features that they will directly experience.
The ceremony included a presentation highlighting the achievements of the program's first three editions, which collectively trained nearly 400 participants and 50 leaders. The program earned a 95% satisfaction rating from participants and drove an approximately 45% increase in capability levels compared to pre-program assessments.
It is worth noting that the Budget Ambassadors Program is one of the programs of the Financial Skills Center, aimed at building the skills and capabilities of public finance professionals in the Saudi Arabia in a sustainable and institutionalized manner over the short and long term, in order to realize the vision and strategy of the Saudi Ministry of Finance, support the Fiscal Sustainability Program, and advance the Medium-Term Financial Planning Initiative.