📍 Riyadh – BETH | September 30, 2025

The Ministry of Finance released the preliminary statement of the 2026 fiscal year budget, reaffirming the strategic directions of Saudi Vision 2030 to strengthen economic growth, broaden revenue sources, and ensure fiscal sustainability while preserving the Kingdom’s strong financial position.

Revenues

2026: SAR 1.147 trillion

2027: SAR 1.198 trillion

2028: SAR 1.289 trillion

The overall trend indicates a gradual increase in revenues, driven by expanding non-oil activities and growing investments.

Expenditures

2026: SAR 1.313 trillion

2027: SAR 1.328 trillion

2028: SAR 1.429 trillion

The main focus remains on financing infrastructure, essential services, and development programs.

Fiscal Deficit

2026: SAR 165 billion (2.9% of GDP)

2027: SAR 115 billion

2028: SAR 79 billion

The deficit is on a downward trajectory, reflecting disciplined fiscal policy.

GDP Growth

2025 expected growth: 4.4% (non-oil: 5.0%)

2026 expected growth: 4.6%, supported mainly by non-oil activities

This reinforces the path of economic diversification and reduced dependency on oil.

Public Debt

2026: SAR 1.300 trillion (29.3% of GDP)

2027: SAR 1.430 trillion (25.9% of GDP)

2028: SAR 1.570 trillion (26.2% of GDP)

Despite a measured rise in the debt portfolio, levels remain within safe boundaries.

Key Messages

Fiscal Sustainability: Preserving strong reserves and maintaining debt at safe levels.

Economic Diversification: Non-oil activities continue to be the main growth driver.

Investing in the Future: Priorities include infrastructure, education, healthcare, and technology.

Financial Discipline: Managing deficit and controlling spending in line with strategic targets.

Analytical Reading – Beyond the Numbers

The 2026 preliminary budget is not merely a set of financial tables but a mirror of deep transformations in the Kingdom:

Investment: Figures reflect the strength of the financial position, further enhancing Riyadh’s appeal as a global hub for multinational headquarters.

Tourism: Increased spending on infrastructure and services aligns with the target of welcoming 150 million visitors annually by 2030.

Sports: Rising investments in non-oil sectors are creating the foundations of a promising sports economy contributing to GDP.

Soft Power: Economic diversification and balanced fiscal policies provide the Kingdom with global influence that extends beyond oil, reaching culture, education, and innovation.

In essence, the budget is more than just revenues and expenditures—it is a roadmap confirming that Saudi Arabia is steadily advancing between finance and politics, between domestic growth and international presence, and between the present and the future.