T+ T – Normal size
Today, Monday, the Saudi Ministry of Finance announced the preliminary statement for the fiscal year 2025 budget, with expenditures of 1.285 trillion riyals and revenues of 1.184 trillion riyals..
The Saudi Ministry of Finance said, in the preliminary budget statement, that the Kingdom expects a deficit of 2.3 percent of GDP for the fiscal year 2025..
The ministry said in a statement that, in light of the economic developments taking place in the Kingdom, the completion of the implementation of a number of financial and economic initiatives, and the adoption of financial policies that contribute to enhancing the stability and sustainability of the state budget for the fiscal year 2025, the 2025 budget is expected to record a deficit of 101 billion riyals, at about 2.3%. Of the gross domestic product.
The 2025 budget estimates are slightly lower than previous estimates for the same year amounting to 1.3 trillion riyals, revenues decreased by 4% from 1.23 trillion riyals, and the deficit increased by 38% from previous estimates of 73 billion riyals..
Saudi Arabia is moving to adopt expansionary budgets with accelerated spending in the medium term, rising by 3% during 2026 to 1.33 trillion riyals, then 8% during 2027, with the aim of supporting growth, implementing the economic reform program, the social support system for citizens, and implementing huge projects in the country..
The Kingdom also expects to record 0.8 percent growth in real GDP in 2024 and 4.6 percent in 2025..
The Minister of Finance, Mohammed bin Abdullah Al-Jadaan, confirmed that the government will continue to enhance spending directed to basic services for citizens and residents, and implement strategic projects with a focus on enhancing economic growth and achieving sustainable development..
