2025 Saudi Arabia's Ministry of Finance forecasts a 2.3% GDP deficit, aims for 4.6% growth in face of oil price challenges.

Saudi Arabia's Ministry of Finance forecasts a 2.3% GDP deficit for Fiscal Year 2025, with expenditures projected at 1.28 trillion riyals ($0.34 trillion) and revenues at 1.18 trillion riyals. The government aims to boost economic diversification through increased spending in non-oil sectors. The anticipated real GDP growth is 0.8% for 2024, rising to 4.6% in 2025, amid ongoing challenges from lower oil prices and production cuts.

September 30, 2024
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