Saudi State Revenues Law to Boost Fiscal Governance: Minister

Saudi Arabia's newly-ratified State Revenues Law will strengthen fiscal and debt governance, Finance Minister Mohammed Al-Jadaan said. The updated legislation aims to improve how the government collects and manages state revenue, with a focus on transparency and efficiency.

Al-Jadaan described the law as a step toward modernizing the kingdom's fiscal framework. He did not provide specific revenue targets or implementation timelines.

The law comes as Saudi Arabia pushes to diversify its economy beyond oil under Vision 2030. Better revenue governance could support the government's borrowing strategy and reduce reliance on volatile oil receipts.