Saudi Arabia forecasts budget deficit of $27bn in 2025
Saudi Arabia on Tuesday approved the country’s general budget for the 2025 fiscal year, forecasting a total deficit of 101 billion Saudi riyals ($27 billion), as the kingdom continues to spend on reforms aimed at transitioning the economy away from oil.
Saudi Arabia projects $26.88 billion deficit in 2025 budget linked to Vision 2030
Declining oil prices and production cuts have reduced Saudi revenue, but Vision 2030 initiatives, such as large infrastructure projects, aim to boost non-oil sectors like tourism and manufacturing.
Saudi 2025 budget foresees $27 billion fiscal deficit as gigaproject spending continues
By Yousef Saba, Rachna Uppal and Nayera Abdallah RIYADH/DUBAI (Reuters) - Saudi Arabia approved its state budget on Tuesday for 2025 forecasting a fiscal deficit of 101 billion riyals ($26.88 billion),
Saudi 2025 Budget Sees Lower Deficit On Spending Trims
Saudi Arabia on Tuesday approved a budget for 2025 that projected a smaller deficit than last year as officials recalibrate a reform drive meant to transition the economy away from oil.
Saudi Crown Prince Approves 2025 Budget
Saudi Arabia’s Crown Prince Mohammed bin Salman has approved the Kingdom’s budget for 2025, marking another significant step toward the nation’s economic transformation. The total revenue for the year is set at 1.
Neom is a '50-plus-year plan,' says Saudi Arabia's finance minister
Neom is a long-term project, rather than one expected to be "making money in five years," said Saudi Arabia's finance ...
Saudi Arabia pushes ahead with economic transformation, minister says
Saudi Arabia is "doubling down" on its multi-billion dollar plan to overhaul its economy and cut the kingdom's dependence on ...
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Deutsche Bank helps China’s Ministry of Finance with first international bond issuance in Saudi Arabia
Global investors flock to 2 billion US dollar issuance as financial cooperation between China and Saudi Arabia continues to ...
Oversubscription of $2 billion bonds in Saudi Arabia reflects appeal of Chinese economy
Chinese banks including the Agricultural Bank of China, Bank of China, the Industrial and Commercial Bank of China recently ...
Citi gets license for regional headquarters in Saudi Arabia, memo shows
U.S. bank Citigroup has received approval to establish its regional headquarters in Saudi Arabia's Riyadh, according to an ...
Saudi Arabia allocates $932m to advance 17 tourism projects in Al-Ahsa
Saudi Arabia has earmarked SR3.5bn ($932m) for the advancement of 17 tourism projects in Al-Ahsa, aiming to transform the ...