Saudi Arabia has announced its approved budget for 2025, projecting revenues of $315 billion (SR1.184 trillion) and expenditures of $342 billion (SR1.285 trillion), resulting in an estimated deficit of $26.9 billion (SR101 billion).

The budget was approved during a Cabinet session chaired by Crown Prince and Prime Minister Mohammed bin Salman. The fiscal year 2025 budget aligns with the goals of Vision 2030, focusing on diversifying the economy, empowering key sectors, and fostering sustainable development.

Key Highlights of the 2025 Budget:

• Revenues: $315 billion (SR1.184 trillion).
• Expenditures: $342 billion (SR1.285 trillion).
• Deficit: $26.9 billion (SR101 billion).

The Crown Prince directed officials to prioritize implementing strategies, programs, and development projects outlined in the budget, with a focus on boosting non-oil activities, supporting the private sector, and creating a resilient investment environment.

Vision 2030 Progress:

The Crown Prince emphasized the ongoing impact of reforms under Vision 2030, which aim to enhance economic diversification and sustainability. Key achievements include:

• Economic Growth: Saudi Arabia is projected to achieve the second-fastest GDP growth rate among major economies in 2025 at 4.6%, driven by record non-oil contributions of 52% in 2024.
• Unemployment: Saudi unemployment fell to a historic low of 7.1% in Q2 2024, nearing the Vision 2030 target of 7%.
• Women in the Workforce: Female labor force participation rose to 35.4% in Q2 2024, surpassing the Vision 2030 goal of 30%.
• Investment Inflows: Net foreign investment inflows reached $5.6 billion (SR21.2 billion) in the first half of 2024.

Strengthening Financial Stability:

The budget underscores the Kingdom’s efforts to maintain fiscal sustainability while enabling flexibility in addressing global economic challenges. The government continues to:

• Diversify financing sources through local and global debt markets.
• Increase public-private sector collaboration to drive economic growth.
• Enhance infrastructure and public services for citizens, residents, and visitors.
• Focus on regulatory and structural reforms to improve the business environment and living standards.

Commitment to Vision 2030:

Crown Prince Mohammed bin Salman highlighted the government’s dedication to achieving the objectives of Vision 2030 by promoting sustainable economic growth, boosting private sector participation, and ensuring financial stability.

The 2025 budget reaffirms Saudi Arabia’s role as a key player in regional and global economic stability, leveraging its robust economy to overcome challenges while continuing to pursue comprehensive development initiatives.