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 Sustainable Development

Countries aspire to achieve sustainable development, ensuring their resilience to financial conditions and enhancing their ability to overcome crises. This can be accomplished by maximizing the utilization of human, financial, and natural resources while safeguarding the interests of future generations. It is crucial to adopt effective mechanisms for identifying potential risks and addressing them in the medium- and long-term. This requires a comprehensive understanding of resource outputs and their impact on the country's overall economy.
The Ministry of Finance has initiated a comprehensive review of the state's general budget and its divisions. The aim is to enhance transparency, enabling sound and accurate analysis of government financial policies. Additionally, this effort supports state officials in developing plans and making informed decisions that promote justice across all crucial areas of sustainable development, including economic growth, natural resource conservation, and social development.

To fulfill the objectives associated with sustainable development, the Ministry has set forth the following goals:

  • Contribute effectively and efficiently to the development of the financial system and financial management.
  • Enhance the efficiency and effectiveness of government spending, ensuring financial sustainability, stability, economic growth, and development.
  • Manage and develop government revenues.
  • Foster growth and development of regional and international development cooperation.

Sustainable Development Goals:
Sustainable development is based on 17 goals, which are:

  • No Poverty
  • Zero Hunger
  • Good Health & Wellbeing
  • Quality Education
  • Gender Equality
  • Clean Water & Sanitation
  • Affordable & Clean Energy
  • Decent Work & Economic Growth
  • Industry, Innovation, & Infrastructure
  • Reduced Inequalities
  • Sustainable Cities & Communities
  • Responsible Consumption & Production
  • Climate Action
  • Life Below Water
  • Life on Land
  • Peace, Justice, & Strong Institutions
  • Partnerships for Goals

The Ministry aims to achieve sustainable development through various goals:
  • Continuously developing the government financial system to ensure efficient financial performance.
  • Monitoring public revenue collection, diversifying revenue sources, and establishing competitive and stable financial environments through the development of financial policies, legislation, and tax systems.
  • Advancing budget preparation mechanisms in accordance with best practices, technical standards, and international principles. Enhancing the management of public spending to maximize efficiency and returns.
  • Contributing to the strengthening of regional and international development cooperation by collaborating with regional and international financial institutions. This enhances the Kingdom's economic interests and elevates its regional and global standing.
  • Providing detailed statistical data on financial resources and banks, along with a description of their impact on the country's overall economy, to achieve sustainable development for the Kingdom.
  • Implementing a reclassification of general budget items to establish a framework that adheres to the best accounting rules, ensuring the provision of comprehensive, accurate, and reliable information and data

Promoting Environmental Sustainability through Technology:
MOF has made significant progress in electronic government transactions, transforming them into a tangible reality for all users of its services. These services are provided by various governmental and private sectors in the Kingdom of Saudi Arabia to achieve the goals of sustainable development. The Ministry has undertaken several technical initiatives to facilitate this transformation:
  • Shifting from paper-based transactions to electronic transactions, implementing transaction flow and administrative communication systems, which have significantly reduced paper usage at the Ministry level.
  • Enhancing the accessibility of services through the Ministry's website, streamlining processes, reducing completion time, saving effort, and alleviating congestion. This has led to a reduction in pollution, energy depletion, and the consumption of raw materials.
  • Supporting workforce preparation and creating an organizational environment capable of utilizing modern technical methods.
  • Providing electronic services and linking them to the National Integration Channel (GSB), making them accessible to all government agencies while maintaining high standards of information security.
  • Promoting a culture of environmental friendliness among all stakeholders, both internal and external, through the Ministry of Finance's external and internal websites.

These efforts have positioned the Kingdom as a global leader in implementing the key areas of sustainable development, while fostering a culture that aligns with global advancements and integrates sustainability principles into public management.

Last Update : 12/14/2023 10:06 PM