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), the kingdom’s Ministry of Finance said, as reported by state news agency SPA.
The deficit will account for about 2.3 per cent of the country’s gross domestic product, in line with the government’s initial projection in September.
Total expenditure for 2025 is projected at 1.285 trillion riyals, while total revenue is expected at 1.184 trillion riyals, the Ministry of Finance said.
More to follow…