Saudi Economy in 2024-25

The government projects total expenditure for 2024 at SR1.25 trillion, which is 11 percent above the projection made in the 2023 budget, when spending was forecast to reach SR1.13 trillion next year. The projection for 2025 also rises—to 1.3 trillion, which is a substantial 15 percent higher than the forecast made last year. Despite this, the authorities expect 2024 spending to fall compared to the estimate of 2023 spending, which has been put at 1.28 trillion.

Saudi Arabia’s non-oil economy continues to expand at a brisk pace. The authorities’ preliminary estimate puts non-oil GDP growth at 4.6 percent in 2023 and we see an acceleration to 5 percent-plus in the next two years.

 

Click here to view Jadwa Investment’s Saudi Economy Report for 2024-25

Share with your network

LinkedIn
Email
WhatsApp