Saudi Minister of Finance Mohammed Al-Jadaan reaffirmed that the Kingdom does not have a strategy or project from now until 2030 without having sufficient funding.

Addressing a press conference following the approval of the 2025 state budget, Al Jadaan clarified the distinction between the Kingdom’s public finances and the operations of the Public Investment Fund (PIF) during a press conference today, emphasizing the independent governance and financial mechanisms underpinning the nation’s ambitious projects.

Al Jadaan stressed that the PIF operates separately from public finances, describing it as a sovereign investment entity tasked with leveraging state assets for the benefit of future generations.

Using landmark projects as examples, Al Jadaan highlighted the PIF’s approach. “When we talk about projects like NEOM, Qiddiya, Diriyah Gate, or the Red Sea, each of these initiatives has its own company established by the fund. These companies have independent boards, budgets allocated by the PIF, and clear strategies, timelines, and periodic reviews adjusted according to economic, geopolitical, or financial circumstances.”

He affirmed that all strategies and projects planned up to 2030 have sustainable financing mechanisms in place that do not strain public finances.

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