Approval of 2025 state budget Deficit represents 2.3% of GDP GDP growth of 4.6% forecast Saudi Arabia has approved its 2025 state budget, estimating total revenues at SAR1.18 trillion ($314 billion) and expenditures at SAR1.

RIYADH/DUBAI: Saudi Arabia approved its state budget on Tuesday for 2025 forecasting a fiscal deficit of 101 billion riyals ($26.88 billion), as its finance minister said the kingdom will continue to spend on massive gigaprojects designed to wean the economy off oil.

Saudi Arabia on Tuesday approved a budget for 2025 that projected a smaller deficit than last year as officials recalibrate a reform drive meant to transition the economy away from oil.

Saudi Arabia approved its 2025 budget on Tuesday, projecting a deficit of 101 billion riyals ($26.88 billion), or 2.3% of its GDP. Finance Minister Mohammed Al Jadaan reaffirmed the kingdom’s commitment to Vision 2030,

Saudi Arabia on Tuesday approved the country’s general budget for the 2025 fiscal year, forecasting a total deficit of 101 Saudi riyals ($27 billion), the kingdom’s Ministry of Finance said, as reported by state news agency SPA.