2025 budget reflects commitment to nation and citizens: Crown Prince

Saudi Crown Prince Mohammed bin Salman

Saudi Crown Prince Mohammed bin Salman commended the Kingdom's achievements at local, regional, and global levels, citing strong international rankings as evidence of financial resilience and global standing.

He attributed this success to effective management of global economic challenges and continued progress toward Vision 2030, Saudi Press Agency (SPA) reported.

The 2025 budget reflects the government’s commitment to national advancement and citizen welfare. The Crown Prince credited these achievements to King Salman’s leadership and the dedication of Saudi citizens.

Government spending will continue driving diversification by developing emerging sectors, attracting investments, boosting industries, and expanding local content and non-oil exports. Vision 2030 programs and national strategies remain on track, with the private sector playing a growing role in economic growth.

Saudi Arabia is projected to post 4.6% Gross domestic product (GDP) growth in 2025, the second-fastest among major economies, driven by record non-oil sector contributions at 52% of GDP in 2024.

Unemployment hit a historic low of 7.1% in Q2 2024, nearing Vision 2030's 7% target, while women’s workforce participation reached 35.4%, surpassing the 30% goal. H1 2024 foreign investment inflows totaled SAR 21.2 billion, reflecting inclusive growth policies.

The Public Investment Fund (PIF) and the National Development Fund (NDF) are vital to economic diversification and achieving Vision 2030 goals, driving stability and comprehensive development.

The 2025 budget reinforces the Kingdom’s commitment to economic resilience, maintaining sustainable debt levels, robust reserves, and flexible spending to address global volatility.

Fiscal reforms have strengthened Saudi Arabia’s credit ratings, enhancing fiscal sustainability and planning efficiency.

The government will sustain transformative spending to boost growth while preserving fiscal balance. Private sector empowerment, Small and medium-sized enterprises (SME) support, and workforce development will underpin long-term economic and social gains.

The budget targets regulatory reforms to enhance living standards, empower businesses, and access global debt markets while ensuring debt sustainability through a medium-term strategy.

The Crown Prince reaffirmed Saudi Arabia’s role in regional and global economic stability, supported by a resilient economy and long-term planning.

He concluded by emphasizing the government’s commitment to serving citizens, preserving development gains, and fostering innovation among Saudi youth to achieve Vision 2030 goals.