Economic updates
Our in-depth, independent reports cover the macroeconomic environment, the Saudi government’s annual budget, and Saudi Arabia’s monetary and financial developments, labor market, and inflation.
The Saudi Economy in 2025
Macroeconomic reportSaudi Arabia’s non-oil economy continues to expand at a brisk pace. We forecast real non-oil GDP growth of 4.4 percent in 2025, firming from a preliminary 4.3 percent in 2024. Growth will be driven by both consumption and investment, with net exports a drag.
2025 Saudi Fiscal Budget
Budget reportThe headline numbers in the finalized 2025 budget were almost identical to the Preliminary Budget Statement which we analysed here. The budget statement added detailed breakdowns for revenue and spending which we assess in this report.
