Saudi Arabia's 2025 budget projects a smaller deficit and diversifies economy away from oil.

Saudi Arabia has approved its 2025 budget, projecting a smaller deficit of $26.8 billion or 2.3% of GDP, down from $30.6 billion in 2024. The budget reflects a drop in expenditures from $358 billion to $342 billion while aiming to diversify the economy away from oil dependency. The budget also estimates a 0.8% GDP growth in 2024, with a projected 4.6% growth in 2025, driven by non-oil activities.

November 26, 2024
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