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Saudi Arabia approves 2025 budget with estimated $315bn revenues and $342bn expenditure

Saudi Arabia has approved its 2025 budget, projecting revenues of 1.17 trillion riyals ($315 billion) and expenditures of 1.28 trillion riyals ($342 billion), resulting in a deficit of 107 billion riyals ($28.5 billion). This budget reflects the kingdom's ongoing efforts to diversify its economy away from oil dependency, with non-oil revenues expected to increase by 8% to 468 billion riyals ($125 billion). The budget allocates significant funds towards enhancing public services, infrastructure, and economic diversification initiatives, including support for small and medium-sized enterprises (SMEs) and the Public Investment Fund (PIF). Despite the projected deficit, the government aims to manage fiscal sustainability through strategic spending and revenue enhancement measures.

Read the Full Arabian Business Article at [ https://www.arabianbusiness.com/politics-economics/saudi-arabia-approves-2025-budget-with-estimated-315bn-revenues-and-342bn-expenditure ]