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Saudi Exports Launches 'Import from Saudi' to Boost National Products in New Global Markets

The flag of Saudi Arabia (Asharq Al-Awsat)
The flag of Saudi Arabia (Asharq Al-Awsat)
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Saudi Exports Launches 'Import from Saudi' to Boost National Products in New Global Markets

The flag of Saudi Arabia (Asharq Al-Awsat)
The flag of Saudi Arabia (Asharq Al-Awsat)

The Saudi Export Development Authority (Saudi Exports) has launched the "Import from Saudi" Service, designed to connect international importers with Saudi exporters, streamline the import process and promote Saudi products in new global markets.
This service aligns with the authority's mission to expand the reach and presence of Saudi products internationally, contributing to the sustainable growth of the Kingdom of Saudi Arabia's non-oil exports, SPA reported.
Saudi Exports Spokesperson Thamer Al-Mishrafi emphasized the authority's commitment to broadening the commercial horizons for national products.

He highlighted the importance of developing innovative solutions and supportive services to achieve the ambitious objective of increasing the percentage of non-oil exports and bolstering their contribution to the national economy.
Importers can register on the Saudi Exports website to gain easy access to Saudi exporters, gather information about Saudi products, and receive guidance in locating suitable companies. Upon registration, a database is created that includes the importers' contact details and specific import needs.

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Egypt Approves $91 Billion Budget for 2025/26

The sun rises in Cairo, Egypt March 25, 2025. (Reuters)
The sun rises in Cairo, Egypt March 25, 2025. (Reuters)
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Egypt Approves $91 Billion Budget for 2025/26

The sun rises in Cairo, Egypt March 25, 2025. (Reuters)
The sun rises in Cairo, Egypt March 25, 2025. (Reuters)

Egypt's cabinet approved a 4.6 trillion Egyptian pound ($91 billion) draft state budget for the financial year that will begin in July, a government statement said on Wednesday, as it continues to tighten its finances under an IMF program.

Expenditures will rise by 18% and revenue by 19% over the current 2024/25 budget. Revenue is expected to hit 3.1 trillion pounds, working out to a deficit of about 1.5 trillion pounds ($30 billion).

The increased expenditure partly reflects elevated headline inflation, which was running at an annual 12.8% in February.

Financial reforms under an $8 billion financial reform program signed in March 2024 with the International Monetary Fund have helped Egypt bring inflation down from a peak of 38% in September 2023.

The IMF this month approved the disbursement of $1.2 billion to Egypt after its fourth review of the program.

The new budget targets a primary surplus of 795 billion pounds, equal to 4% of GDP, up from the 3.5% primary surplus originally targeted in the 2024/25 budget.

The IMF granted the government a waiver in the fourth review after the surplus came in 0.5% of GDP lower than Egypt's earlier commitment.

In its third review in June, the IMF praised Egypt for its "strict control of spending".

The new budget also lowers public debt to 82.9% of GDP from an expected 92% in 2024/25, the cabinet statement said.

The cabinet said 732.6 billion pounds in spending in the new budget would be allocated for subsidies, grants and social benefits, an increase of 15.2%.

The budget increases commodities and bread subsidies by 20% to 160 billion pounds. It will also include 75 billion pounds to subsidize petroleum products, 75 billion pounds to subsidize electricity and 3.5 billion pounds to subsidize natural gas deliveries to households, the statement added.