Daily Times

The Kingdom of Saudi Arabia has unveiled an ambitious and forward-looking budget for 2025, marking another significant step in its journey towards economic transformation.

The budget reflects the bold vision of Crown Prince Mohammed bin Salman, whose leadership has not only steered Saudi Arabia away from its reliance on oil revenues but also positioned the Kingdom as a hub of innovation, sustainability, and modernity. The Crown Prince’s Vision 2030 is no longer just a plan on paper; it is unfolding as a concrete reality, inspiring not just Saudis but observers worldwide.

The 2025 budget, with projected expenditures of 1.285 trillion riyals and revenues of 1.184 trillion riyals, reflects a calculated fiscal deficit of 101 billion riyals, or approximately 2.3 percent of GDP. While deficits are often perceived as financial challenges, in this case, it is a deliberate strategy to invest in long-term growth. Mega-projects like the futuristic city of NEOM stand at the heart of this transformation.

NEOM is a testament to Crown Prince Mohammed bin Salman’s extraordinary vision. It embodies a future where innovation meets sustainability, promising to redefine urban living on a global scale. Such projects demonstrate the Crown Prince’s unparalleled ability to translate bold ideas into actionable projects that benefit not only Saudi Arabia but the entire region.

Saudi Arabia’s approach to progress is not isolated from its relationships with allies, particularly Pakistan. The ties between the two nations are deeply rooted in history, friendship, and mutual respect. Leaders like Mian Muhammad Nawaz Sharif and Mian Muhammad Shehbaz Sharif have played an instrumental role in strengthening these bonds over the past three decades.

Nawaz Sharif’s history of fostering strong ties with Saudi Arabia and Shehbaz Sharif’s focus on development projects at home makes them natural allies of a transformative Kingdom.

Their rapport with the Saudi royal family, including the late King Abdullah and now King Salman and Crown Prince Mohammed bin Salman, has ensured that Pakistan remains a trusted ally of the Kingdom. These relationships have translated into consistent support for Pakistan, especially during times of economic distress. Whether it was financial aid, deferred oil payments, or direct investment, Saudi Arabia has always stood by Pakistan, reflecting the depth of this strategic and personal partnership.

One of the critical pillars of Pakistan’s stability, which underpins its ability to pursue bold economic reforms, is the role of the Pakistan Army. Under the steadfast leadership of the Chief of Army Staff, the military has played a pivotal role in ensuring political stability and security within the country, which are essential for economic growth.

The Army’s unwavering support for initiatives like the Special Investment Facilitation Council (SIFC) has created a secure environment conducive to foreign investment and economic reforms. This collaboration between civilian leadership and the military showcases Pakistan’s unified commitment to national progress and economic transformation. With such strong foundations, Pakistan is well-positioned to emulate Saudi Arabia’s visionary approach and attract global partnerships that drive growth and development.

For Pakistan, Saudi Arabia’s 2025 budget and Vision 2030 provide valuable lessons. Pakistan faces economic challenges that require bold and innovative solutions, much like those undertaken by Saudi Arabia.

The Kingdom’s strategy to diversify its economy and reduce its dependence on oil highlights the importance of broadening its economic base. Pakistan, too, must look beyond its traditional sectors and focus on untapped opportunities in technology, renewable energy, and tourism. The Special Investment Facilitation Council (SIFC), a promising initiative in Pakistan, could be a game-changer if aligned with Saudi Arabia’s economic interests. Saudi Arabia’s expertise in infrastructure development and attracting foreign investment provides a model for Pakistan to emulate.

One of the most striking aspects of Saudi Arabia’s current strategy is its focus on technology. The Crown Prince has made technological innovation a cornerstone of Vision 2030, with significant investments in areas such as artificial intelligence, robotics, and 5G networks. This approach positions Saudi Arabia as a leader in the global digital economy, a position Pakistan could aspire to with the right guidance. By collaborating with Saudi Arabia, Pakistan could accelerate its digital transformation, creating jobs and opening new avenues for economic growth.

Education and workforce development are other critical areas where Pakistan could learn from Saudi Arabia. Vision 2030 emphasizes equipping Saudis with skills for emerging industries, ensuring the nation’s youth are prepared for the future. Pakistan, with its young and energetic population, can adopt a similar approach. Joint initiatives in vocational training and education could create a generation of skilled workers capable of contributing to both national and international economies.

Healthcare is another sector where Saudi Arabia is making significant strides. The 2025 budget allocates substantial resources to modernizing healthcare facilities and expanding medical research. Pakistan, which faces gaps in healthcare infrastructure, could benefit from Saudi investment and expertise. Collaborative efforts in healthcare would not only improve services in Pakistan but also deepen the bond between the two nations.

Despite the deficit, Saudi Arabia’s fiscal discipline remains exemplary. Public debt is expected to stay below 30 percent of GDP, a level that allows for sustainable growth while maintaining financial stability. Pakistan, which has struggled with mounting debt, could take valuable lessons from Saudi Arabia’s approach. By prioritizing investments that yield long-term economic returns and managing debt prudently, Pakistan can build a more resilient economy.

Tourism is another area where Saudi Arabia’s success could inspire Pakistan. Under Crown Prince Mohammed bin Salman’s leadership, Saudi Arabia has transformed its tourism sector, promoting the Kingdom’s cultural and natural heritage to attract global visitors. Pakistan, with its breathtaking mountains, historical landmarks, and vibrant cultural tapestry, has immense potential in this sector. Collaborative projects supported by Saudi expertise and investment could turn Pakistan into a major tourist destination, creating jobs and boosting foreign exchange earnings.

Crown Prince Mohammed bin Salman’s leadership deserves special recognition. His ability to dream big and execute effectively has not only elevated Saudi Arabia’s global standing but also set an example for the world. His Vision 2030 is a testament to what can be achieved with determination, focus, and strategic thinking. The Crown Prince’s foresight in diversifying Saudi Arabia’s economy and creating a culture of innovation reflects a deep understanding of modern global dynamics. He is not just transforming a nation; he is redefining leadership in the 21st century.

In Pakistan, leaders like Mian Muhammad Nawaz Sharif and Mian Muhammad Shehbaz Sharif have similarly shown a commitment to progress and nation-building. Their dedication to infrastructure development, economic growth, and regional stability aligns naturally with the vision of Saudi leadership. Nawaz Sharif’s history of fostering strong ties with Saudi Arabia and Shehbaz Sharif’s focus on development projects at home makes them natural allies of a transformative Saudi Arabia. Their ability to bridge Pakistan’s challenges with Saudi opportunities highlights their stature as visionary leaders.

Saudi Arabia’s 2025 budget and Vision 2030 stand as shining examples of what focused leadership and strategic planning can achieve. Crown Prince Mohammed bin Salman’s visionary approach has redefined the Kingdom’s trajectory, positioning it as a global leader in innovation, sustainability, and economic diversification. For Pakistan, the lessons from Saudi Arabia’s journey are clear: bold reforms, strategic partnerships, and a commitment to innovation are the keys to future prosperity.

With leaders like Mian Muhammad Nawaz Sharif and Mian Muhammad Shehbaz Sharif nurturing Pakistan’s relationship with Saudi Arabia, and with the steadfast support of the Pakistan Army and its leadership ensuring stability and security, the two nations are well-positioned to collaborate on projects that benefit both economies. Together, Saudi Arabia and Pakistan have the potential to shape a brighter, more prosperous future for the region and beyond.

The writer can be reached at: alimalikfne@gmail.com