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 has approved its state budget for 2025, which forecasts a fiscal deficit of SAR101bn ($27bn) or 2.3 per cent of GDP next year, as the kingdom continues to spend on massive projects under Vision 2030, the Gulf state’s ambitious plan to diversify the economy away from heavy reliance on oil revenues.

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.

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, an ambitious plan to reduce its dependence on oil.

Saudi Crown Prince Mohammed bin Salman on Tuesday approved the country's budget for 2025, state media reported, with a planned deficit of 101 billion riyals ($26.88 billion). The budget set spending at 1.

Saudi Arabia's budget for 2025 has been approved by Crown Prince Mohammed bin Salman. It involves a planned deficit of 101 billion riyals, with spending set at 1.285 trillion riyals and anticipated revenues of 1.

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 the country’s general budget for the 2025 fiscal year, forecasting a total deficit of 101 billion Saudi riyals ($27 billion), as the kingdom continues to spend on reforms aimed at transitioning the economy away from oil.

Saudi Arabia’s Crown Prince Mohammed bin Salman has approved the Kingdom’s budget for 2025, marking another significant step toward the nation’s economic transformation. The total revenue for the year is set at 1.