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Saudi 2025 Budget Sees Lower Deficit On Spending Trims

Saudi Arabia on Tuesday approved a budget for 2025 that projected a smaller deficit than last year despite continued heavy spending on reforms to transition the economy away from oil.

International Business Times

GCC Minister Discuss Free Trade Agreement with China

Members of the Financial and Economic Cooperation Committee and the Trade Cooperation Committee of the GCC countries discussed the final report on the technical status of the free trade agreement negotiations between the GCC and China. The meeting completes the vision of the Custodian of the Two Holy Mosques, King…

Asharq Al-Awsat

Saudi Arabia Accelerates Transition to Clean Energy

The second edition of the Future Minerals Forum kicked off in Saudi Arabia under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz. The Forum aims to develop dialogue on the future of minerals and investment in mining and boost cooperation throughout the area extending…

Asharq Al-Awsat

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Saudi Arabia, Britain Sign MoU to Develop Financial Services

Saudi Minister of Finance Mohammed Al-Jadaan met on Tuesday with Chancellor of the Exchequer Jeremy Hunt in London, reported the Saudi Press Agency. The officials discussed bilater aal relations between their countries and global economic issues.

Asharq Al-Awsat

Saudi Arabia Signs MoU with IMF to Establish Regional Office in Riyadh

Saudi Arabia concluded a memorandum of understanding with the International Monetary Fund (IMF) to establish a regional office in Riyadh, which would boost its presence in the region and provide its economic recommendations to the countries of the Gulf and the region. Saudi Minister of Finance Mohammed al-Jadaan signed the…

Asharq Al-Awsat

Saudi Arabia Pumps $80 Bn to Develop Local Content

The estimated value of government competitions that meet the requirements of local content and localization amounted to $80 billion since the launch of legislation until the first half of 2022, announced Minister of Industry and Mineral Resources Bandar Ibrahim AlKhorayef. He said that developing local content requires integrated work and…

Asharq Al-Awsat

Saudi Arabia, Italy to Boost Comprehensive Strategic Partnership

Saudi Arabia and Italy underscored on Monday their strategic relations and determination to further expand their economic partnership. Addressing the Saudi-Italian Investment Forum being in Riyadh, Saudi Finance Minister Mohammad al-Jadaan discussed the national economy and the "enormous" investment opportunities available. He said his country is going through an economic…

Asharq Al-Awsat

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Saudi Arabia finalising extension of $3 billion deposit to Pakistan -Finance Minister

Saudi Arabia is finalising the extension of the kingdom's $3 billion deposit to Pakistan, Saudi Minister of Finance Mohammed al-Jadaan told Reuters.

Reuters

Saudi Finance Minister Expects 7.4% Growth in 2022

Saudi Finance Minister Mohammed al-Jadaan announced that the Kingdom expects a 7.4 percent growth in 2022. Speaking at a panel on the economic outlook for the MENA region at the World Economic Forum in Davos (WEF), Jadaan explained that Saudi oil GDP would grow 19 percent this year due to…

Asharq Al-Awsat

Saudi Arabia Expects Stronger Growth in Non-Oil Sector

Saudi Minister of Finance Mohammed al-Jadaan said he is expecting stronger-than-expected growth this year in the non-oil sector underpinned by the structural reforms under Vision 2030. Jadaan asserted that the Kingdom remains committed to prudent policies to maintain monetary and financial stability and preserve a solid fiscal position while accelerating…

Asharq Al-Awsat

King Salman Approves Extending Deadline for Property Ownership Requests

The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, issued a Royal Decree on Monday extending the deadline for receiving property ownership applications and amending the rules for considering such requests. Minister of Finance Mohammad bin Abdullah al-Jadaan lauded the King’s decision, saying it proves the Saudi leadership’s…

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