Saudi Arabia Approves 2026 Budget of 1.313 Trillion Riyals

According to the Saudi Press Agency, Crown Prince Mohammed bin Salman approved the general budget for the Kingdom of Saudi Arabia for 2026 during a cabinet meeting held in Dammam. This announcement follows the release of the 2025 budget statement on November 26 and represents a new step in supporting Vision 2030. The announcement was not just about numbers; it emphasized the ongoing commitment to economic diversification, supporting the private sector, and achieving non-oil growth.
Key highlights based on official data from the Ministry of Finance and the Saudi Press Agency (SPA):

• Total Spending: 1.313 trillion Saudi riyals (approximately $350 billion), focusing on mega-projects, infrastructure, and promising sectors such as tourism, technology, and renewable energy.
• Total Revenues: 1.147 trillion riyals (approximately $306 billion), with an expected growth of 5.1% compared to 2025, supported by an increase in non-oil revenues.
• Expected Deficit: 165 billion riyals (approximately $44 billion), or 3.3% of GDP, which is lower than the expected deficit for 2025 (245 billion riyals or 5.3% of GDP).
• Economic Growth: GDP growth is projected at 4.6% in 2026, driven by non-oil activity at 4.7%, with inflation expected to decrease to 2% (down from 2.3% in 2025).
• Public Debt: It is expected to reach 1.3 trillion riyals (29.9% of GDP) by the end of 2025, with continued domestic and foreign borrowing to finance projects without compromising financial stability.

For a general analysis of the announcement and budget figures read this analytical article.