US’ Mnuchin says talk about sanctions premature, will visit Riyadh to meet with counterpart

"I will not be participating in the Future Investment Initiative summit in Saudi Arabia," Mnuchin announced on Twitter after meeting with US President Donald Trump and Secretary of State Mike Pompeo. (AFP/Mandel Ngan)
Updated 21 October 2018
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US’ Mnuchin says talk about sanctions premature, will visit Riyadh to meet with counterpart

JERUSALEM, Oct 21 : US Treasury Secretary Steven Mnuchin said on Sunday it was premature to comment on possible US sanctions against Saudi Arabia for the death of Saudi journalist Jamal Khashoggi until an investigation had been completed.
Mnuchin said information so far on the investigation was “a good first step but not enough” as Riyadh faced increasing international pressure over what happened to Khashoggi, who disappeared after he entered the Saudi consulate in Istanbul on Oct. 2.
US President Donald Trump, who has said the United States would consider sanctions against Saudi Arabia, emphasized on Saturday that he was not satisfied with the Saudis’ handling of the case.
“It would be premature to comment on sanctions and premature to comment on really any issues until we get further down the investigation and get to the bottom of what occurred,” Mnuchin told reporters in Jerusalem.
Mnuchin confirmed that he would not attend a Saudi investment conference on Tuesday. However, he said he would visit Riyadh as planned for talks with his counterpart on joint efforts to counter terrorist financing and plans by Washington to reimpose sanctions against Iran in November.
“I did not think it was appropriate to go and speak at this conference but we continue to have important issues with Saudi and that is why I am going there,” Mnuchin said.
The visit, he said, was necessary as Washington prepares to reimpose sanctions against Iran.
He said he had no reason to believe that Saudi Arabia would renege on commitments to make up for any shortfall in global oil supplies as Iranian oil exports are curbed under the sanctions.
“I have no reason to believe that they are not going to honor those commitments,” said Mnuchin, who will meet Saudi Energy Minister Khalid Al-Falih while in Riyadh.


Finance officials meet to map out Saudi Arabia’s budget plans

Updated 19 April 2019
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Finance officials meet to map out Saudi Arabia’s budget plans

  • Finance representatives of 150 government bodies meet for the Budget Forum 2020

RIYADH: Saudi finance chiefs have kicked off a major conference in the capital aimed at mapping out the Kingdom’s budget requirements.
Around 300 specialists representing 150 government bodies met at the InterContinental hotel in Riyadh for the Budget Forum 2020.
Minister of Finance Mohammed Al-Jadaan welcomed delegates to the second edition of the gathering organized by the Saudi Finance Ministry under the slogan “Partnership and Empowerment.”
Al-Jadaan said the ministry was focused on “partnership and commitment,” and sought to share the challenge of developing an effective budget to achieve the Kingdom’s ambitious goals.
“We are also committed to empowering financial leaderships to learn about the ministry’s programs and projects and provide training and qualification opportunities to the best international standards,” he added.
The finance chief said the budget planning process required the collaboration of multiple authorities and a clear strategy based on transparency. 
Items up for discussion at the forum included financial planning in governmental bodies, automation, and the promotion of revenues and efficient spending.
Finance Ministry steering committee chairman, Abdul Aziz bin Saleh Al-Freih, stressed the importance of the forum in getting the ball rolling at an early stage on formulating a general state budget.
Workshops were held on the sidelines of the conference focused on empowering government organizations, and a training program on financial planning and income estimations was also staged.