The introduction of the Fiscal Sustainability Program (previously called Fiscal Balance Program) in June 2017 marked a significant turning point in empowering the medium-term fiscal planning mechanism to preserve and achieve general financial stability while retaining economic growth.

This was accomplished by diversifying the state's tax streams, increasing the productivity of public spending, stimulating the business sector, and giving subsidies to poor residents.

When the policy was revised, it was revamped to be more durable and supportive of economic growth by medium-term fiscal planning, fiscal strategies, rerouting spending to prevent changes in actual oil prices, improving the capacity to cope with emergencies, and focusing on projects that can realize solid, sustainable growth that is free of oil markets.

Since its introduction, the initiative has focused on reducing GDP deficit ratios from 15.8 % in 2015 to 4.5 % in 2019, improving the Kingdom's financial status and boosting its financial center's ability to cope with external shocks amid all of the tough circumstances that the world experienced in 2020 because of the emergence of the novel coronavirus (COVID-19) pandemic.

The program's execution resulted in increased financial preparation and improved budget delivery, with the overall annual deviation of real production of total expenditures from budget forecasts declining from an average of 16% during the timeframe (2014-2016) to an average of 4% during the implementation process, from 2017 to 2019.

The initiative has been effective in building a tax system known for its efficiency and productivity, in terms of broadening and improving revenues in a systemic and ongoing manner as a primary and sustainable source, primarily for non-oil revenues, where the remarkable growth in non-oil revenues has helped reduce investment risk due to fluctuations in the global oil market.

Among all the project's accomplishments are the automation and improvement of processes and processes, and the growth of Zakat and tax statements at the General Authority of Zakat and Tax to more than 1.9 statements in that year, representing a more than 700 % increase rate, rise in commitment to delivering Zakat and tax statements to 95 % by 2020.

The Zakat platform and framework for Zakat for individuals were launched, with over 60,000 users and 156 million paying Zakat collected up until 2020.

The policy has helped to reform certain structural distortions and promoted the optimal use of economic tools, such as progressively connecting oil rates until they reached a point of reference and growing employment prospects for people by implementing the financial equivalent for foreign workers.

The program's successes were continued through the National Debt Management Center, where the rise in exchange volume in the local secondary sector reached more than SR70 billion from deals enacted in 2020, relative to SR10 billion in 2019, representing a 600 % exponential increase on an annual basis.

The foreign investor base increased by 12.4 % in 2020 when the first international bonds with a negative yield outside the European Union were released in 2021, and the second-largest bonds outside of the European Union were published in 2022.

While the initiative is also in the process of introducing many economic policies, it still considers the pressures borne by people by rerouting funding to recipients by citizens' accounts and providing support and stabilization packages to the private sector to help it mitigate the effects of these reforms. The software also implements several measures that lead to increased accountability and productivity in the management of public finance.

These includes: designing the structure and management of macro-financial policy, enhancing the quality of public procurement, introducing the Etimad plan to enhance competition, supervision, and performance assessment, where Saudi Arabia's classification improved by 18 ranks in the budget transparency index in 2019, in comparison to one point in the earlier survey released in 2017.

After the declaration of the Saudi Vision 2030 in April 2016, Saudi Arabia has been experiencing extensive economic, social, and institutional activities to provide the proper atmosphere to accomplish the Vision, where 13 initiatives, including the Fiscal Sustainability Program, have been accredited to realize the Vision.

The project targets a robust budgetary and economic policy for the medium term to achieve economic development and fiscal stabilization by continuing economic adjustments and financial processes at the expenditure and revenue levels and adopting program measures.

Early estimates for 2021 predict that real GDP will increase by 3.2 % led by the expectation that economic growth will begin to rebound during the year, and that the government would continue to work to strengthen the position of the private sector as a key driver of economic development.

It will promote the development of small and medium-sized enterprises (SMEs) in tandem with the government's efforts to introduce systemic reforms aimed at economic diversification through the Saudi Vision 2030, enhancing business climate, and creating new opportunities for regional and global investors. This implementation is the anticipated beneficial role of infrastructure funds being spent and new initiatives, privatization efforts, aimed at fulfilling the Vision.