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Saudi Arabia: Int’l Community Must Assume Responsibility to Reach Immediate Ceasefire in Gaza 

Saudi Arabia's Foreign Minister Prince Faisal bin Farhan bin Abdullah speaks during a round table meeting with Chinese Foreign Minister Wang Yi and his Arab and Islamic counterparts at the Diaoyutai state guesthouse in Beijing, Monday, Nov. 20, 2023. (AP)
Saudi Arabia's Foreign Minister Prince Faisal bin Farhan bin Abdullah speaks during a round table meeting with Chinese Foreign Minister Wang Yi and his Arab and Islamic counterparts at the Diaoyutai state guesthouse in Beijing, Monday, Nov. 20, 2023. (AP)
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Saudi Arabia: Int’l Community Must Assume Responsibility to Reach Immediate Ceasefire in Gaza 

Saudi Arabia's Foreign Minister Prince Faisal bin Farhan bin Abdullah speaks during a round table meeting with Chinese Foreign Minister Wang Yi and his Arab and Islamic counterparts at the Diaoyutai state guesthouse in Beijing, Monday, Nov. 20, 2023. (AP)
Saudi Arabia's Foreign Minister Prince Faisal bin Farhan bin Abdullah speaks during a round table meeting with Chinese Foreign Minister Wang Yi and his Arab and Islamic counterparts at the Diaoyutai state guesthouse in Beijing, Monday, Nov. 20, 2023. (AP)

Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah stressed on Monday the need for an immediate ceasefire in Gaza.

He also underlined the need to increase aid allowed into the Palestinian coastal enclave given the total siege imposed by Israel since Hamas’ Al-Aqsa Flood operation on October 7.

He warned that Gaza is suffering from a stifling humanitarian disaster, urging the international community to assume its responsibility to make Israel stop its violations.

Prince Faisal made his remarks in China where he, along with his Muslim and Arab counterparts, were visiting as part of a committee that was formed in wake of the extraordinary Arab League and Organization of Islamic Cooperation (OIC) summit that was held in Riyadh earlier this month to tackle the conflict in Gaza.

The committee, led by Prince Faisal, has been tasked with visiting influential countries to push for a ceasefire. China was the first stop of their tour.

“There are still dangerous developments ahead of us and an urgent humanitarian crisis that requires an international mobilization to deal with and counter it,” he said.

He added they appreciated the resolution issued by the United Nations Security Council, calling for urgent and extended humanitarian pauses in Gaza, “but we still need more efforts and cooperation.”

The committee met with Chinese Foreign Minister Wang Yi in Beijing on Monday. It includes Qatari Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman Al Thani, Jordan’s Deputy Prime Minister and Minister of Foreign Affairs and Expatriates Ayman Safadi, Egypt’s Minister of Foreign Affairs Sameh Shoukry, Palestinian Minister of Foreign Affairs and Expatriates Riyad Al-Maliki, Türkiye’s Minister for Foreign Affairs Hakan Fidan, Indonesia’s Minister of Foreign Affairs Retno Marsudi, Nigeria’s Minister of Foreign Affairs Yusuf Maitama Tuggar, Secretary-General of the Arab League Ahmed Aboul Gheit, and OIC Secretary General Hussein Ibrahim Taha.

China’s top diplomat welcomed the ministers, saying his country would work with “our brothers and sisters” in the Arab and Islamic world to try to end the war in Gaza as soon as possible.

Wang told the foreign diplomats that their decision to start in Beijing shows their high level of trust in his nation.

“China is a good friend and brother of Arab and Islamic countries,” Wang said in opening remarks at a state guest house before their talks began. “We have always firmly safeguarded the legitimate rights and interests of Arab (and) Islamic countries and have always firmly supported the just cause of the Palestinian people.”

China has long backed the Palestinians and been quick to denounce Israel over its settlements in the occupied territories.

The five foreign ministers will visit a number of capitals in an effort to pursue a ceasefire, get aid into Gaza and end the war, Prince Faisal said last weekend.

Israel's retaliatory strikes on the Gaza Strip have so far killed more than 11,500 people, according to Palestinian health authorities. Another 2,700 have been reported missing, believed buried in rubble.

“This isn’t Israel’s first war against the Palestinian people,” said Al-Maliki, the Palestinian Authority foreign minister. “However, Israel wants this to be its last war, where it takes full control of the Palestinian people’s presence on what’s left of the historical land of Palestine.”

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Saudi Crown Prince: 2025 Budget Underscores Commitment to Strengthen Kingdom’s Economy

Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister. (SPA)
Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister. (SPA)
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Saudi Crown Prince: 2025 Budget Underscores Commitment to Strengthen Kingdom’s Economy

Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister. (SPA)
Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister. (SPA)

Following the approval of the Kingdom's general budget for the fiscal year 2025 on Tuesday, Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister and Chairman of the Council of Economic and Development Affairs, underscored the Kingdom's significant local, regional, and international achievements, including advanced positions in global indices.

This underlines the robustness of Saudi Arabia's financial standing, the government's success in navigating global economic challenges and its dedication to fulfilling the goals of Vision 2030, he said in a statement.

Crown Prince Mohammed had earlier chaired a cabinet meeting to approve the state budget.  

Total expenditure for 2025 is projected at 1.285 trillion riyals, which is the same as projected in September and likely to equate to about 30% of GDP over the next three years. Total revenue is forecast at 1.184 trillion riyals.   

The Crown Prince directed ministers and officials to commit, each in his capacity, to implementing the programs, strategies, and development and social projects included in the budget, consistent with the goals of the Kingdom's Vision 2030.

The 2025 budget demonstrates the government's commitment to the country's advancement and citizen welfare, and attributed the nation's accomplishments to God Almighty, to the leadership of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, and to the diligent efforts of the Kingdom's citizens, stressed Crown Prince Mohammed.

He emphasized the role of government spending in diversifying the Kingdom's economy by focusing on empowering promising sectors, boosting the investment environment, and stimulating industries. He highlighted the efforts to increase local content and non-oil exports, while continuing to implement programs to realize the Kingdom's Vision 2030 and national strategies, and boosting the private sector's role in contributing to investment projects, an approach that enables the government to maintain its focus on comprehensive and sustainable economic development.

The government's efforts continue, guided by systematic planning for the medium and long term, taking into account regional and global economic developments and challenges to ensure the achievement of strategic goals while preserving economic gains and maintaining financial sustainability.

The Crown Prince stressed that the positive indicators of the Saudi economy are a result of the ongoing reforms under Vision 2030. The Kingdom is projected to have the second-fastest GDP growth rate among major economies next year, estimated at 4.6%. This growth is fueled by the increasing contribution of non-oil activities, which reached a record 52% in 2024.

Additionally, the unemployment rate for Saudis fell to a historic low of 7.1% by the second quarter, nearing the Vision 2030 target of 7%. The participation rate of Saudi women in the labor market rose to 35.4% until the second quarter, surpassing the vision's goal of 30%.

Net foreign investment inflows totaled SAR21.2 billion in the first half of 2024, reflecting the government's commitment, under the leadership of the Custodian of the Two Holy Mosques, to supporting all segments of society.

The Crown Prince underlined the crucial role of the Public Investment Fund and National Development Fund, along with its development funds, in supporting economic stability and driving comprehensive development. These funds are pivotal to diversifying the Kingdom's economy and fostering investment, to achieve the objectives of Vision 2030.

The 2025 budget underscores the commitment to strengthening the robustness and flexibility of the Kingdom's economy, which is growing rapidly and creating unprecedented opportunities, said Crown Prince Mohammed. This is achieved by maintaining sustainable levels of public debt and substantial government reserves, along with a flexible spending policy that enables the Kingdom to address global economic challenges and fluctuations.

He noted that the financial reforms implemented by the Kingdom, through the government's adoption of financial policies that maintain financial sustainability and efficient financial planning, have positively impacted its credit ratings.

He stressed the government's commitment to fostering economic growth through transformational spending, while ensuring financial sustainability in the medium and long term.  

He highlighted efforts to increase the private sector's role in the economy, enabling it to become the primary driver of economic growth by creating a conducive investment environment and supporting small and medium enterprises.  

This strategy aims to build a strong and promising business sector that boosts the capabilities of human resources in various projects, and enables the government to remain focused on promoting economic growth to ensure financial sustainability and the continuation of projects with economic and social benefits.  

Moreover, efforts will continue in developing infrastructure and improving the quality of essential services for citizens, residents, and visitors.

The Crown Prince emphasized that the 2025 budget reaffirms the Kingdom's commitment to continuing regulatory and structural reforms and developing policies aimed at enhancing the standard of living, empowering the private sector, and improving the business environment. This includes preparing an annual borrowing plan in line with the medium-term debt strategy, which aims to maintain debt sustainability, diversify local and foreign financing sources, and access global debt markets.

He highlighted the Kingdom's pivotal role in supporting regional and global economic and financial stability, leveraging its robust economy to overcome challenges.

Acknowledging the fact that the Saudi economy is an integral part of the global economy, the Crown Prince said that it is subject to global developments, like any other economy, and this necessitates continuous efforts to address global challenges, through long-term financial planning.  

He added that the focus remains on achieving and implementing programs and initiatives while committing to efficient spending, and ensuring the meticulous and transparent execution of all budget items, and on completing the programs and projects outlined in Vision 2030, and the national and sectoral strategies.

The Crown Prince stressed the Kingdom's clear approach and highlighted that the government's primary goal, under the leadership of the Custodian of the Two Holy Mosques, is to serve citizens and residents, safeguard the development achieved so far, and continue humanitarian endeavors, both domestically and internationally, in line with the teachings of true Islam.