Saudi Arabia has ensured that all projects and strategies planned until 2030 are fully funded with sustainable mechanisms, Finance Minister Mohammed Al-Jadaan confirmed during a press conference following the approval of the 2025 state budget, Sabq reported, citing the minister on November 27.

"All projects and strategies until 2030 have funding. The funding is sustainable and will not affect public finances. To maintain a sustainable economy, we must also maintain public finances," Al-Jadaan said.

The minister clarified the separation between the Kingdom’s public finances and the operations of the Public Investment Fund (PIF), the large government-backed wealth fund, describing the latter as a sovereign investment vehicle with its own governance framework.

“The PIF establishes companies for specific projects, allocates budgets to them, and assigns independent boards of directors responsible for their management and execution,” Al-Jadaan noted.

He cited mega-projects such as NEOM, Qiddiya, Diriyah Gate and the Red Sea, each of which operates as independent entities under the PIF.

"These companies have dedicated budgets, clear strategies, timelines and periodic reviews to adapt to economic, geopolitical or financial changes," he added.

Al-Jadaan highlighted the long-term nature of some projects, such as NEOM, while noting that others, like Diriyah and the Red Sea, are already operational and delivering results with "high efficiency and exceptional quality."

The minister urged acknowledgment of these achievements, stating: "Every day, new projects are launched and operations begin. We should celebrate the historical milestones achieved in record time with outstanding quality and efficiency."

On fiscal policy, Al-Jadaan underscored the strong governance frameworks in place, with oversight provided by the Financial Committee, the Council of Economic and Development Affairs and the Council of Ministers.

Al-Jadaan also addressed speculation about further transfers of Aramco shares to the PIF, confirming there are no current plans for such transfers.

He assured that public revenue from Aramco, derived from royalties, taxes and distributions, would remain stable.

"Aramco's oil revenues are primarily derived from rents, taxes and distributions. The only element affected by share transfers is distributions," he explained.

Al-Jadaan stated that inflation in Saudi Arabia was contained at 1.7% in 2024, with projections to remain below 2% in the medium term, significantly lower than global rates. He attributed this to the government's measures, including energy price freezes and ensuring the availability of essential goods.

The minister disclosed that total government spending for 2024 is expected to reach SAR1.345 trillion, with revenues of SAR1.230 trillion, resulting in a SAR115bn deficit.

For 2025, expenditures are projected to increase by 2.7% to SAR1.285 trillion, with revenues estimated at SAR1.184 trillion and a deficit of SAR101bn.

Al-Jadaan emphasised that the government continues to focus on sectors such as education, health and social development, with SAR526bn allocated to these areas in the 2025 budget.

Investments in large-scale infrastructure projects and programmes under Vision 2030 are also driving economic growth.

The minister highlighted the rising contribution of private sector investment, now representing 24.7% of GDP, up from 16% in 2016. He attributed this to government efforts to foster a favourable economic environment, including reforms aimed at enhancing governance and transparency.