​The Ministry of Finance, represented by the Macro-Fiscal Policy Unit,, 

organized with partnership of International Monetary Fund, which is represented by Mr.Abdelhak Senhadji, Deputy Director, Fiscal Affairs Department, a Seminar entitled " Debt: Use it Wisely ", in the ministry general court. on Thursday, 17/2/1438 AH

A significant number of employees of the Ministry of Finance have attended the seminar. The Seminar discussed  the Fiscal Monitor report,  " Debt; use it wisely," which contains all of the data on debt to get a comprehensive picture of the debt in the world, and covers advanced economies, emerging markets and low-income countries. He sheds light also on the recent financial trends in the Gulf region, In addition to providing information on both public debt and private debt, which are divided into the debt of companies and families.

The seminar also addressed the  size of the global debt and its distribution over the world, the impact of the global financial crisis on debt reduction, the consequences of the increasing of accumulation in the private sector debt in recent years in some emerging market economies (such as China). It also addressed the most serious debts (growing debts in the public and private sectors), and the use of fiscal policy in light of rising debt, slowing growth and the inflation rates records which are more lower than the target.

The seminar discussed the output report " Fiscal Monitor -" issued by the International Monetary Fund, Tracks and trends of public finance sector in the Kingdom of Saudi Arabia and Arabian countries of Gulf Cooperation Council (GCC).

It is worth mentioning, that the Macro-Fiscal Policy Unit have been created on 09/01/1437 AH, by a Royal Decree issued  after a recommendation of kingdom's vision in 2030, as one of the objectives of the national transformation program and linked directly to His Excellency the Minister of Finance.

The unit, which is chaired by Dr. Saad Bin Ali Al-Shahrani, works on the formulation of macroeconomic policies, providing consultations, minute studies and relevant research directly related to the economic and financial policies and local, regional and global economic conditions, It also do analysis of macroeconomic through mathematical macro- economic which has been established by the unit.

The unit achieves the national transformation program initiatives which are meant for the preparation of the framework of public finance medium-term, the application of the budget preparation system based on clear standards, the development of procedures, legislation and systems preparation to follow-up the general budget of the state and the application of the International Government Finance Statistics Manual 2014.

The functions  of Macro-Fiscal Policy Unit are to establish a database of the International Government Finance Statistics Manual 2014,  to build a mathematical macro-economic model for the Kingdom; to prepare income, expenditure and financing forecasts; monitor and analyze the differences between expectations and actual results of income, expenditure and finance; to limit spending roof and financing needs on medium term, as well as the preparation of studies and research related to the macroeconomic and public finance to help in decision-making: to provide the country's macroeconomic forecasts in the long-term average, and to put corrective policies and to give advice.