Saudi 2025 budget sees lower deficit on spending trims

Saudi Arabia approved a budget for 2025 projecting a smaller deficit of $26.8 billion, down from $30.6 billion in 2024, with spending on economic reforms continuing. The budget reflects reduced expenditures and aims for sustainable levels of public debt and government reserves. Government officials are recalibrating plans for projects like NEOM, emphasizing long-term success over short-term targets and highlighting the importance of non-oil activities in driving economic growth.

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