The Arab Coordination Group pledged $10 billion while the OPEC Fund and the Islamic Development Bank committed $1 billion each to the Riyadh Global Drought Resilience Partnership, alongside the $150 million dollars provided by Saudi Arabia to operationalize the initiative.
French President Emmanuel Macron’s arrival in Riyadh on Monday for a three-day state visit demonstrates the deepening ties between France and Saudi Arabia. The visit follows an invitation from Crown Prince Mohammed bin Salman and it reflects the shared ambition to enhance cooperation across various
Saudi Arabia’s 2034 World Cup bid received a higher technical score from Fifa than the 2026 joint bid by the United States, Canada and Mexico, even though the Middle Eastern nation has yet to construct a number of stadiums proposed for the tournament.
The largest-ever meeting of the United Nations Convention to Combat Desertification (UNCCD) is set to kick-off in Riyadh, with an action-packed agenda to drive multilateral action on land degradation, drought and desertification.
Saudi Arabia the state budget for fiscal year 2025 with revenues projected at SR1.18 trillion ($315.73 billion) and expenditure at SR1.28 trillion, leading to a deficit of SR101 billion. Saudi Arabia’s Real GDP growth is projected at 4.6 percent in 2025, up from the 0.8% in 2024
Moody’s upgraded Saudi Arabia’s sovereign credit rating to Aa3, citing progress in economic diversification and prudent fiscal management. The agency’s fourth-highest grade reflects confidence in KSA to sustain forecasted deficits of 2%-3% per year through 2030, supported by a low debt to GDP ratio.
The Riyadh Metro is part of the King Abdulaziz Project for Riyadh Public Transport and will consist of six metro lines spanning a total length of 176 kilometres (109 mi), with 84 stations. The project will cost $22.5 billion to build.[
Saudi Arabia has localized 19.35% of its military spending, a significant increase from 4% in 2018, with plans to exceed 50% by 2030 according to Eng. Ahmed Al-Ohali, Governor of the General Authority for Military Industries (GAMI).
