💰 Financial Record

This document is page 18 of a Merrill Lynch research paper titled 'GEMs Paper #26' dated June 30, 2016. It analyzes the fiscal policy of Saudi Arabia, specifically focusing on the National Transformation Plan (NTP), government spending targets, and the shift in fiscal adjustment burden to non-oil revenues. The document includes a detailed table breaking down projected spending by various Saudi ministries (Housing, Education, etc.) for the period 2016-2020. It bears a House Oversight Committee Bates stamp, indicating it was produced as part of a congressional investigation, likely related to financial records involving foreign entities.