Over 99% of dues paid to private sector within 15 days: Finance Minister

Minister of Finance Mohammad Al-Jadaan

More than 99% of the private sector's dues during 2022 were paid within 15 days, although the applicable law allows the government to pay within 45 days, Minister of Finance Mohammad Al-Jadaan told Budget Forum 2023. 

This was mainly to give clear messages to the private sector that the government does not function by delaying payments, the minister said.

He added that, amid higher interest rates, payment within 15 days instead for 45 aims to alleviate the operating budget for the private sector instead of borrowing.