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International Monetary Fund (IMF)
An international organization aimed at enhancing monetary cooperation, promoting trade expansion, and fostering sustainable economic growth among member countries.
Controls
Measures, policies, and procedures implemented by institutions to manage and mitigate risks, to ensure the integrity and reliability of financial information.
Return on Investment (ROI)
A financial metric that evaluates the profitability of an investment relative to its cost. It is widely used in business and finance to assess the success or effectiveness of an investment by comparing the gains or benefits to the initial investment.
Liquidity Premium
The additional return required by investors for holding less liquid assets, which are harder to buy or sell quickly.
Consolidated Financial Statements
The financial statements of an economic entity in which the assets, liabilities, net assets/equity, revenue, expenses and cash flows of the controlling entity and its controlled entities are presented as those of a single economic entity.
Investor
A person who is eligible by virtue of relevant laws and regulations to practice business and investment activities.
Growth Rate
The percentage increase in economic indicators like GDP or investments over a period.
Public Tender
Inviting all suppliers and contractors without specification to bid to fulfill the needs of the government entity.
Actual Revenue Ratio of Estimated
The total revenues expected to be collected during a given future period to come.
Public Expenditures
Accounts (items) that have an economic classification, but do not have a subaccount number.
Marginal Propensity to Consume (MPC)
The percentage of additional income that a household spends instead of saving.
Assets Ownership Transfer
A contractual arrangement related to Infrastructure or Public Services that results in transferring ownership of an asset from a government entity to a Private Party.
Digital Economy
An economy that relies on digital technology and the internet to conduct business and financial transactions. It includes activities such as e-commerce, digital payments, cloud services, and the use of data and artificial intelligence to improve processes, including e-commerce, online services, and fintech.
High Order
A document that is not bound by a specific format or structure, bearing the signature of the King in his capacity as Prime Minister, and which may also be issued by the First or Second Deputy Prime Minister when either of them presides over the council. Such royal orders typically relate to matters that serve the interests of citizens. Perhaps the closest example of this is the decision issued yesterday to allow women to drive.
Settlement
An accounting process that compares two sets of records to check that figures are correct and in agreement. It aims at correcting the sums that are wrongly spent on a budget item and to direct it to the correct account or settle the amounts of the custodies and advances when they are activated or replaced.
Value Added Tax (VAT)
An indirect tax imposed on all goods and services that are bought and sold on a regular and continuous basis by persons subject to tax, with some exceptions. The value-added tax is imposed at every stage of production, starting from distribution until the stage of sale to the consumer. VAT is obligatory to every individual or company that practices an economic activity if the value of his annual taxable revenues exceeds 375,000 SAR.
Initial Request of Government Bodies’ Budget
Initial government bodies budget that is received from the electronic budget system and that is prepared in accordance with government financial statistics including items, expenses, workers, compensation, operating disbursements and capital expenditures in accordance with the limit amount for each government body.
Life Insurance Contract
Any contract of conventional insurance or Takaful or another form of Islamic insurance provided by a regulated provider in the KSA which results in the payment of a sum contingent on death or another significant event of human life, or a similar contract provided by a non-resident supplier.
Capitalization of Expenses
Expenses that lead to increasing the value of capital assets and extending their useful life, if applicable.
Issuance Program
A program under which a single prospectus under the Rules on the Offer of Securities and Continuing Obligations is produced pursuant to which a number of debt instruments or convertible debt instruments may be issued in the future, as stated in the prospectus.
Audit Program
A detailed set of procedures and instructions followed by auditors during the audit process, specifying steps to examine financial records.
Medium-Term Debt Strategy
Outlines a plan for managing and structuring an organization's debt over a medium-term.
Convertible Debt Instrument
A debt instrument whose holder has the right to convert it into shares of the company issuing that instrument.
Rebalancing Portfolio
Adjusting asset allocations in a portfolio to maintain desired risk levels.
Customer-Centric Innovation
Developing products, services, or solutions based on customer needs, feedback, and preferences.
Closed Framework Agreement
A formal agreement between one or more government entities and suppliers or contractors, containing the conditions and regulations of the contract, where no additional suppliers or contractors may join once the agreement has been concluded.
Open Framework Agreement
A formal agreement between one or more government organizations and suppliers or contractors, containing the conditions and regulations of the contract, which allows additional suppliers or contractors to join during the term of the agreement.
Shareholders Agreement
The document that the special purpose vehicle (SPV) equity providers enter into, setting out how they will work together to manage it.
Short-Term Treasury Bills
Short-term government debt securities that mature in one year or less, aimed at managing liquidity, with low risk and limited returns.
Economic Performance
A measure of an economy’s efficiency, stability, and capacity for growth over a specific period, typically assessed on an annual basis.
Financial Instrument
Any contract that creates a financial asset for one party and a financial liability or equity instrument for another party.
Enterprise Risk Management (ERM)
A systematic approach to identifying, assessing, and managing risks across an entire organization to achieve business objectives and protect assets.
Long-Term Treasury Bills
Long-term government debt securities that mature in more than one year, offering higher returns to compensate investors for the risks associated with the longer duration.
Bidding Name
The registered in the Etimad Platform by the owner (the government entity).
Stakeholders
Parties with a direct or indirect interest or involvement in the project or that may otherwise be affected by it. These may include public and private sector organizations, as well as private individuals, community representatives or non-profit bodies.
Exemption from Import Duties
Clearance of goods for home use free of import duties and taxes, irrespective of their normal tariff classification or normal liability, provided that they are imported in specified circumstances and for specified purposes.
Bankruptcy
A legal process in which an individual or business declares inability to repay debts, leading to asset liquidation or restructuring.
Development Economics
A branch of economics focused on improving economic growth and living standards in developing countries.
Macroeconomic
A branch of economics that studies economic phenomena at the level of a country or the world like inflation, unemployment, economic growth and national income.
Disbursed Payment Order
The disbursed payment order in the financial system by which transfer or ministerial check is issued.
Deviation of Revenue from the Budget
This indicator measures the ratio of actual government revenue to the target to limit potential deviations in revenue for each entity in order to enhance the principle of financial responsibility and encourage government agencies to reach their financial targets.
Oil Revenues
Income generated by a country from the sale of oil and oil-related products, which can be a significant source of revenue for oil-producing nations.
Short Selling
The practice of selling borrowed stocks with the expectation of buying them back at a lower price.
Tokenization
The process of converting rights to an asset into digital tokens on a blockchain.
Development
The process of growth, advancement, or progress, often in the context of economic, social, or infrastructure improvements or expansion.
Project Evaluation
A process or measuring a project, program, investment, or performance to determine its effectiveness, efficiency, and achievement of objectives.
Deferred Cost
The remaining of the costs minus the total appropriations for the current year.
Asset Allocation
An investment strategy that distributes assets across different categories (stocks, bonds, etc.) to balance risk and return.
Treasury Single Account (TSA)
An aggregate account based on centralizing collection of government revenue and centralizing payment to government entities.
Debt Service Schedule (DSS)
A comprehensive plan that details the timing and amount of principal and interest payments required to service a debt over its life.
Baseline Cash Flow Forecast
An initial projection of expected cash flows for the fiscal year, aligned with the approved budget.
Cash Balance
The current financial amount of money available in specific accounts.
Item Number
The revenue, expenditure, program or project number found in the budget report, based on the Government Finance Statistics Manual classification.
Audit Log
A chronological record of all activities, transactions, and changes related to a financial operation or set of data, essential for transparency and accountability.
Customized Budget Scenario
A financial plan in which the credits required for the next year in the forms may be higher or lower than the initial ceiling, as determined by the entity.
Person in Charge
The minister, the head of the government department, or the head of the independent department.
Net Present Value (NPV)
The difference between the present value of cash inflows and outflows of an investment.
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