RIYADH, Sept. 30 (Xinhua) -- The Saudi Ministry of Finance announced Monday the Pre-Budget Statement for Fiscal Year 2025, which estimated a deficit of 2.3 percent of gross domestic product (GDP).
The Arab world's biggest economy Saudi Arabia announced Monday it anticipates a budget deficit of 2.3 percent of GDP in 2025, projected to continue over the following two years.
Saudi Arabia plans to cut spending next year to contain a widening budget deficit as a decline in oil revenue runs up against the cost of multibillion-dollar infrastructure projects.
Saudi Arabia plans for a 2.3% Gross Domestic Product (GDP) deficit in 2025. The country's finance ministry estimates total expenditures of 1,285 billion riyals ($342 billion) and revenues of 1,184 ...