Our VisionA leading ministry contributing to Saudi Arabia's economic development through an innovative and sustainable financial ecosystem.
Our MissionEnabling the economic development of the Kingdom of Saudi Arabia by developing effective financial policies, enhancing the efficiency of public financial management, ensuring transparency and compliance, maximizing the impact of partnerships with the private and non-profit sectors, and strengthening the Kingdom's influence in the financial community regionally and internationally.
Our ValuesTransparency Our transparency in dealings, communication, and knowledge exchange is a core value underpinning our credibility. |
| Partnership We recognize the importance of our role in serving our partners to meet their needs and achieve their goals. |
Commitment We are committed to our responsibility in enabling the nation's advancement and realizing its vision with insight and planning.
| | Achievement
Achievement is our way of working and our culture in executing tasks and accomplishing goals with excellence.
Empowerment
We empower entities to manage their financial affairs effectively, and enable future leaders in public finance. |
Strategic PillarsFinancial Planning and PoliciesDevelop fiscal policies that support the Kingdom's transformational agenda, maintain fiscal resilience, address the broader sustainability priorities
Governance, Accountability, and CompliancePromote effective governance across the Kingdom's fiscal ecosystem, ensuring optimal oversight and accountability across public entities
Budget EffectivenessEnsure the effectiveness of the national budget preparation process and the efficiency of financial resource planning and allocation.
Quality of Financial AccountsContinue strengthening fiscal accounts through consolidation of the fiscal position and transitioning to accrual accounting, enhanced fiscal reporting and more effective cash management practices
International PositioningStrengthen the Kingdom's global presence by engaging with multilateral institutions, advocating for national development priorities, and fostering partnerships that add value to the Kingdom.
Strategic EnablersTechnology and Artificial IntelligenceAdvance the Ministry's digital and data capabilities to streamline operations, improve productivity, support data-driven decision-making, and maximize value generation from adoption of the Unified Government Resources Planning System across public ecosystem.
Communication and Institutional ExcellenceBuild an adaptive and institutionally mature organization capable of responding effectively to evolving priorities and challenges, ensuring proactive communication, lean service delivery, and decision-making agility
Institutional Capabilities and CultureCultivate a culture of excellence by promoting ownership, innovation, proactivity, collaboration, and accountability, while prioritizing talent development and retention
Key Initiatives:· Development of a comprehensive framework to consolidate and evaluate fiscal policies
· Measuring fiscal space through the year 2040
· Management and continuous evaluation of fiscal rules.
· Enhancement and implementation of policies and procedures for preparing the national budget and aligning them with medium- and long-term financial planning framework.
· Ensuring the sustainability of the transition to accrual-based accounting
· Efficient cash and payment management while reducing financial risks
· Implementing modern fiscal oversight concepts and methods>
· Advancing transformation in artificial intelligence
Alignment of the Ministry's Strategy with the Sustainable Development GoalsThe Kingdom is moving towards expanding strategic spending on key sectors and economic zones, and accelerating project execution, with the aim of diversifying the economic base to make it more sustainable, while maximizing economic, social, and environmental returns and benefits. In addition, the strategy focuses on enhancing the quality of services provided to citizens and empowering them through the social services ecosystem, while maintaining fiscal sustainability over the medium- and long-term.
The Ministry of Finance serves as an enabler for other government entities to achieve the national and development objectives assigned to them, positioning itself as a partner to all other government entities in achieving various development goals.
Accordingly, the Ministry's strategy focuses on enabling contributions for financial sustainability and ensuring the achievement of all targets, including developing fiscal policies, enhancing and diversifying revenue sources to finance public expenditures, improving policies and procedures for national budget preparation and implementation according to international best practices, and improving the process of managing government contracts.
The Ministry contributes directly to achieving a number of the goals of the Saudi Vision 2030, the most prominent of which are:·Enhance effectiveness of financial planning & efficiency of government spending
·Balance public budget
·Grow & diversify the Economy
·Improve performance of government apparatus
·Promote & enable financial planning
· Engage effectively with citizens
·Support growth of non-profit sector
· Grow SME contribution to the economy
· Develop economic ties with the region beyond GCC
· Develop economic ties with global partners