A Royal Decree approving the General Budget Law for the fiscal year 2024 was issued Wednesday, and it was published in the edition of the Official Gazette.

Last week, the Senate, chaired by Council President Faisal Al Fayez and in the presence of the ministerial body, approved the draft General Budget Law for the fiscal year 2023, as received from the House of Representatives.

Additionally, the Senate approved 64 recommendations from its Financial and Economic Committee after listening to the government's responses, delivered by the Minister of Finance, Mohamad Al-Ississ.

These recommendations, outlined in the report, include measures aimed at curbing wasteful spending and trimming expenses in specific budgetary areas. Such measures could potentially generate a substantial surplus, a portion of which might be earmarked to cover allowances for civil and military personnel, as well as retirees, while the remainder could be utilized to mitigate the budget deficit.