Saudi Ministry of Finance Unveils FY 2025 Pre-Budget Statement with SAR 1,285 Billion in Expenditures

KSA, 01 October, 2024 : The Saudi Ministry of Finance announced its Pre-Budget Statement for Fiscal Year 2025, projecting total expenditures of SAR 1,285 billion and revenues of SAR 1,184 billion, leading to a 2.3% GDP deficit. The Government plans to boost strategic spending to drive economic diversification and sustainable growth.

The statement forecasts revenues to rise to SAR 1,289 billion by 2027, with expenditures reaching SAR 1,429 billion. It highlighted the growth of non-oil sectors, including tourism, transportation, and logistics, as key contributors to economic prosperity, reducing unemployment and improving quality of life.

Minister of Finance Mohammed Aljadaan emphasized continued investments in essential services, strategic projects, and Vision 2030 initiatives. He noted the Kingdom’s commitment to long-term fiscal planning, maintaining flexibility to address future challenges, and sustaining growth through public investment and development funds.

Despite global economic challenges, the Saudi economy is expected to grow by 4.6% in 2025, supported by ongoing reforms. The Government also plans to continue borrowing to finance the budget deficit and sustain public debt management, ensuring alignment with Vision 2030 goals.

This Pre-Budget Statement marks the seventh consecutive year of increased fiscal transparency and reflects Saudi Arabia’s commitment to strengthening its fiscal position.

Source : www.mof.gov.sa