Al-Tuwaijri says NDF aims at sustainability, eyes to balance impact of funds on all regions

Mohammed Al-Tuwaijri, Vice Chairman of the Board of National Development Fund

Saudi Arabia’s National Development Fund (NDF) is a non-for-profit entity that aims directly at sustainability, with all its developmental objectives, according to Mohammed Al-Tuwaijri, Vice Chairman of the Board of National Development Fund (NDF).

During the first session titled “Financial Sustainability and National Economic Development” at the Saudi Budget Forum 2022 held today, Dec. 13, he said that the fund is working through 12 funds aimed at economic development, indicating that the government is keen to balance the impact of funds on all regions.

He also noted that the fund disbursed nearly SAR 28 billion to support sectors most affected by the pandemic, such as transport, aviation and others.

On Sunday, Saudi Arabia’s Ministry of Finance announced the budget 2022, estimating public revenue at SAR 1.045 trillion, and expenditures at SAR 955 billion, with an expected surplus of SAR 90 billion, according to data compiled by Argaam.