RIYADH, Nov. 26 (Xinhua) -- Saudi Arabia approved on Tuesday its state budget for 2025 with a deficit of 101 billion Saudi riyals (26.88 billion U.S. dollars), or about 2.3 percent of the kingdom's GDP.
The budget estimates total expenditures at 1.285 trillion Saudi riyals for the Fiscal Year 2025 and total revenues at 1.184 trillion riyals, the Saudi Press Agency reported.
Saudi Minister of Finance Mohammed Al-Jadaan said the kingdom's ongoing economic transformation focuses on diversification, innovation, and investment in promising sectors.
He also highlighted that the public debt balance would reach 1.3 trillion riyals, representing 29.9 percent of GDP in 2025.
