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 riyals, or roughly $358 billion, to 1.285 trillion riyals, or roughly $342 billion, the budget said.
Source: Al Monitor
Full Article: Saudi 2025 budget sees lower deficit on spending trims
