His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Crown Prince and Prime Minister, chaired the Cabinet session held today, in Riyadh, to approve the state’s general budget for the new fiscal year 2025.
The Cabinet reviewed the items in the state’s general budget for the fiscal year 2025, and issued a decision in its regard, including the following:
The state’s general revenues are estimated at SAR1.184 trillion ($315.2 billion).
Additionally, the approved state general expenditures amount to SAR1.285 trillion ($342.07 billion).
Moreover, the deficit is estimated at SAR101 billion ($26.9 billion).
The Crown Prince directed ministers and officials to commit, each in his capacity, to implementing the programs, strategies, and development and social projects included in the budget, consistent with the goals of the Kingdom’s Vision 2030.
In September 2024, the Saudi Ministry of Finance announced the Pre-Budget Statement for Fiscal Year 2025 on September 30, 2024. The statement projected total expenditures at SAR1,285 billion ($346.95 billion) and total revenues at SAR1,184 billion ($319.68 billion), resulting in a deficit of 2.3 percent of Gross Domestic Product (GDP). It further emphasized the Government’s commitment to increasing strategic transformational spending to foster economic diversification and sustainable growth.
