Saudi Arabia’s Ministry of Finance announced on Monday, in its preliminary budget statement, that the Kingdom expects a deficit of 2.3% of GDP for the fiscal year 2025.
According to the budget forecast, Saudi Arabia is projecting total government spending to reach 1.285 trillion riyals ($342 billion), while revenues are anticipated to be 1.184 trillion riyals in 2025.
The Kingdom also forecasts 0.8% growth in real GDP for 2024, followed by a stronger 4.6% growth in 2025, signaling an optimistic outlook for economic recovery.
