Saudi Finance Minister Confirms Ongoing Investment in Basic Services for Citizens, Residents
The Ministry of Finance announced the preliminary statement of the general state budget for fiscal year 2025. Total expenditures are expected to be about 1.285 billion riyals, while total revenues are projected at around 1.184 billion riyals. This will result in a deficit of 2.3% of the gross domestic product (GDP).
Investment in Basic Services
Finance Minister Mohammed Al-Jadaan confirmed that the government will continue to enhance spending on basic services for citizens and residents. The focus will also be on implementing strategic projects that promote economic growth and sustainable development.
He stated that the Saudi economy is expected to experience positive growth in 2025 and in the medium term due to ongoing reforms and projects under Saudi Vision 2030. This will help diversify the economic base, enhance the private sector’s role, and promote growth in sectors that create more business opportunities and jobs. The government also employs a long-term financial planning approach to ensure stable transformational spending that achieves economic gains and sustainable growth.
He also indicated that public finance is characterized by flexibility and the ability to withstand pressures when needed in the medium and long term. He also highlighted the pivotal role of the Public Investment Fund, the National Development Fund, and the developmental funds associated with them in supporting economic stability.
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