Riyadh, Saudi Arabia, Nov 26, 2024 (AFP) - Saudi 2025 budget sees lower deficit on spending trims

NAMPA / AFP

2024-11-26

Saudi Arabia on Tuesday approved a budget for 2025 that projected a smaller deficit than last year despite continued heavy spending on reforms to transition the economy away from oil. The expected deficit of $26.8 billion, amounting to 2.3 percent of GDP, is down from a 2024 deficit of $30.6 billion, or 2.8 percent of GDP, according to the budget published by the finance ministry. That reflects a drop in expenditures from 1.345 trillion Saudi ri......

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Law & Politics

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