According to the preliminary statement, total revenues for the year 2025 are expected to reach about 1,184 billion riyals, reaching about 1,289 billion riyals in 2027, while total expenditures are estimated to reach about 1,285 billion riyals in fiscal year 2025, reaching about 1,429 billion riyals in fiscal year 2027.
According to the preliminary statement, the total revenues are expected to reach about 1,184 billion riyals in fiscal year 2025, reaching about 1,429 billion riyals in fiscal year 2027.
The statement emphasized that in light of the economic developments witnessed by the Kingdom, and in 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 about 2.3% of GDP.
The statement emphasized that the total expenditures are estimated to reach about 1,429 billion riyals in the fiscal year 2025, reaching about 1,429 billion riyals in fiscal year 2027. The statement pointed to the achievement of GDP growth rates supported by the growth of non-oil activities, which contributed to the prosperity of promising sectors such as tourism, entertainment, transportation, logistics and industry, in addition to improving the quality of life, empowering the private sector and reducing the unemployment rate to historically low levels, which was positively reflected in the expectations of international organizations and credit rating agencies for the performance of the Saudi economy.
The statement highlighted the highlights of the Saudi economy. The statement reviewed the most prominent forecasts for 2024, including real GDP growth of 0.8% in 2024, supported by the growth of non-oil activities, which is expected to register approximately 3.7%, in addition to the recent decrease in interest rates is expected to contribute to higher demand which may positively affect economic growth, and preliminary forecasts indicate that the consumer price index "inflation rate" will reach about 1.7% by the end of 2024.“
The Minister of Economy, H.E. Mr. Abdulaziz Al Mubarak, emphasized the importance of the real GDP growth in 2024, supported by the growth in non-oil activities which is expected to register approximately 3.71 TP3T. <For his part, His Excellency the Minister of Finance, Mr. Mohammed bin Abdullah Al-Jadaan, affirmed that the government will continue to enhance spending directed to basic services for citizens and residents, and implement strategic projects with a focus on promoting economic growth and achieving sustainable development, noting that the Saudi economy is expected - God willing - to record positive growth rates during the year 2025 and in the medium term thanks to continuing to implement reforms, strategies and projects under Saudi Vision 2030, to continue its contribution to diversifying the economic base, enhancing the role of the private sector, in addition to the growth of promising sectors that support Zayed. Al-Jadaan pointed out that the positive outlook for the Saudi economy for the year 2025 comes as an extension of the positive developments of its actual performance in the past years, and that the preliminary estimates for 2025 indicate real GDP growth of 4.6%, and this positive outlook reflects the Kingdom's commitment to implement its ambitious strategies and achieve sustainable development, which increases investor confidence and strengthens the position of the Saudi economy at the regional and international levels.
He added that the positive outlook reflects the Kingdom's commitment to implement its ambitious strategies and achieve sustainable development, which increases investor confidence and strengthens the position of the Saudi economy at the regional and international levels. He added: ”Despite the slowdown in the growth of the global economy and the continuing economic challenges and geopolitical risks, the Kingdom has proven the strength of its financial position and the resilience of its economy in the face of changes with safe levels of government reserves, maintaining public debt within acceptable rates, in addition to a flexible spending policy that helps contain crises that may arise in the future.“
His Excellency explained that the Kingdom is committed to implementing its ambitious strategies and achieving sustainable development. <His Excellency explained that the government is working to continue borrowing according to the approved annual borrowing plan to finance the expected budget deficit and repay the principal of the debt due in 2025, in addition to taking advantage of market opportunities to meet the financing needs. including alternative government financing, noting that the size of the public debt portfolio is expected to increase in a measured manner to ensure the sustainability of the debt as a result of the expansion of spending in order to accelerate the pace of implementation of some programs and projects that enable the achievement of the targets of Saudi Vision 2030.
