Saudi Arabia’s non-oil economy to grow by 4.8% in 2025: Minister

Faisal Al-Ibrahim, Minister of Economy and Planning

Saudi Arabia expects its non-oil economy to grow by 4.8% and 6.2% in 2025 and 2026, respectively, driven by efforts to invest in human capital and more dynamism in the private sector, said Minister of Economy and Planning Faisal Al-Ibrahim.

During a seminar entitled "Future of Global Economic Growth" at the Davos Conference 2025, Al-Ibrahim highlighted that the Saudi leadership has pushed for planning with confidence and careful management to make the Kingdom's economy more diversified, and not to rely solely on oil.

The Kingdom is working to diversify its growth resources, as it has the assets and capabilities needed to enable the industrial sector to advance and export more competitively, while directing incentives to non-oil exports, said the Minister.

He indicated that this comes in line with financial measures to safeguard the Saudi economy against reliance on a single commodity during the economic transformation process.

The Minister also reiterated the importance of building solid institutional capabilities and investing in human capital, which are long-term investments that have to exist regardless of what is sought to be achieved.