Saudi Arabia Continues Expansionary Spending Geared Towards Economic Growth and Fiscal Sustainability

  • Riyadh, Saudi Arabia
  • 2 October 2024
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The Saudi Ministry of Finance disclosed the budget for 2025, and according to the preliminary statement of the budget, the total revenues are expected to reach about 1.184 trillion riyals in 2025 to about 1.289 trillion riyals in 2027, while the total expenditures are estimated to reach about 1.285 trillion riyals next year, rising to about 1.429 trillion riyals in the fiscal year 2027.

The expansion budget aims to continue financing major economic projects, promote economic growth, create new jobs, and implement plans and initiatives to achieve the goals of Vision 2030, in addition to attracting foreign investments, as the available investment opportunities have increased, especially in the mining, technology and other promising sectors, which will lead to an increase in GDP growth.

 

Source (Al-Sharq Al-Awsat Newspaper, Edited)

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