RIYADH — Saudi Minister of Finance Mohammed Al-Jadaan said that all Saudi Vision 2030 projects have sustainable funding that does not affect public finances. Addressing a press conference following the approval of the 2025 state budget, the minister confirmed that spending on qualitative projects has increased by 34 percent in a compounded manner and non-oil revenues have grown by 154 percent since the launch of the Vision 2030 in 2016. Al-Jadaan reaffirmed that the Kingdom does not have a strategy or project from now until 2030 without having sufficient funding. "According to the plans I talked about today, all projects until 2030 have funding, and the funding is sustainable and will not affect public finances. Our main goal is not to affect public finances, and if we want to maintain a sustainable economy, we must maintain public finances," he said. The minister clarified that there are currently no plans to transfer additional Aramco shares to the Public Investment Fund (PIF). He assured that public revenue from Aramco, derived from royalties and taxes, will remain stable. "Aramco's oil revenues come through three sources, including rents, taxes and distributions, and the last item is the only one affected by the transfer of shares," he said. He pointed to a fundamental structural change in the economy, as the contribution of private investment to the GDP rose to 24 percent compared to 28 percent for oil.
