Following the adoption of the 2025 state budget, Saudi Finance Minister Mohammed Al-Jadaan held a news conference to highlight important economic accomplishments and priorities.
He highlighted Saudi Arabia’s strong financial standing, revolutionary economic changes, and the government’s dedication to economical expenditure and sustained growth.
Al-Jadaan praised the Kingdom’s striking structural change, which was accomplished at a rate never seen before in the world. He credited the economy’s diversification and decreased dependence on oil earnings to accomplishing the Vision 2030 reforms. Non-oil income have increased by 154% since 2016, which is a significant turning point in the Saudi economy’s ability to withstand changes in the price of oil.
He stated that the nominal GDP had reached SR 4.1 trillion and that “economic indicators are promising.” Al-Jadaan also emphasized the growing significance of tourism in the national economy by pointing out that it has the second-biggest impact on the balance of payments after oil.
The minister described notable advancements in employment and contributions from the business sector. Since the introduction of Vision 2030, the percentage of Saudis working in the private sector has climbed by 24%, and the country’s private investment share has grown from 16 percent in 2016 to 25 percent. These developments support the government’s plan to enable the private sector as a major engine of economic expansion.
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