الجدعان: لا نية لزيادة الأعباء الضريبية على الاقتصاد

The Minister of Finance, Mohammed Al-Jadaan, confirmed that the Kingdom is confidently moving towards achieving the goals of "Vision 2030" to diversify the national economy away from oil, noting that the ongoing economic transformation in the Kingdom is not an easy task, but requires bold vision and practical plans to build sustainable momentum for change.
Al-Jadaan's statements came during a session hosted by the "Atlantic Council" on the sidelines of the annual meetings of the World Bank and the International Monetary Fund for 2025 in the U.S. capital, Washington, where the minister addressed Saudi and global economic issues, as well as the growing risks of sovereign debt and ways to address them.
Al-Jadaan stated that Saudi Arabia does not intend to impose any tax increases on the economy, explaining that the government's policy focuses on expanding the size of the local economy, increasing non-oil revenues, and reducing public debt levels through investment in strategic productive programs that create job opportunities and enhance sustainable economic growth.
He added that the unemployment rate in Saudi Arabia has reached its lowest level ever, emphasizing that this achievement was not coincidental, but rather the result of implementing a realistic vision based on clear developmental policies and specific goals.
The Minister of Finance clarified that the budget deficit in Saudi Arabia is "optional" by nature, as it results from deliberate investment in developmental projects with strategic returns, contributing to stimulating growth and diversifying the economy, affirming that the debt-to-GDP ratio in Saudi Arabia remains among the lowest in the G20 countries.
Al-Jadaan stressed that the government continues to work on raising the contribution of non-oil GDP to about 65% of the total GDP by 2030, through the development of new sectors and enhancing the resilience of the national economy against global fluctuations.