After the 2026 Budget: The Crown Prince Highlights Citizen Welfare and Accelerated Vision 2030 Progress
Highlights from the Crown Prince’s Statement
◉ The citizen’s welfare remains at the forefront of government priorities.
◉ Vision 2030 enters its third phase in 2026… accelerating implementation is a national necessity.
◉ Structural transformation of the economy has strengthened non-oil growth and reduced inflation.
◉ The labor market records the highest employment of Saudis in the private sector (2.5 million).
◉ Saudi unemployment drops below the Vision 2030 target of 7%.
◉ Women’s empowerment and participation across sectors continue at unprecedented rates.
◉ Homeownership among Saudi families reaches 65.4%, surpassing the 2025 target.
◉ Real GDP is expected to grow by 4.6%, driven by non-oil growth of 4.8%.
◉ Fiscal sustainability and building substantial reserves remain key priorities.
◉ The Public Investment Fund continues developing strategic sectors and building global partnerships.
◉ A firm governmental commitment to stimulating investment and diversifying the economy in line with Vision 2030.
◉ Emphasis on spending efficiency, transparency, and the precise execution of all programs and projects.
📍 Dammam – BETH
11 Jumada Al-Akhirah 1447 AH
corresponding to 2 December 2025 AD
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, Chairman of the Council of Economic and Development Affairs — may God protect him — affirmed, on the occasion of approving the State’s General Budget for the fiscal year (1447 / 1448 AH) 2026, that the 2026 budget reflects the government’s commitment to placing the citizen’s welfare at the forefront of its priorities. He emphasized that the major achievements realized were through the grace of God, then through the guidance of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud — may God support him — and through the efforts of the Kingdom’s sons and daughters.
His Royal Highness explained that Saudi Vision 2030 will enter its third phase in 2026, which calls for doubling efforts in implementation, accelerating the pace of achievement, and expanding growth opportunities in order to realize sustainable impact beyond 2030 and solidify the gains of national transformation for future generations. He noted that the structural transformation achieved since the launch of Vision 2030 has contributed to strengthening the growth of non-oil activities, maintaining inflation at levels lower than global counterparts, improving the business environment, empowering the private sector as an active development partner, and reinforcing the Kingdom’s position as a global economic and investment hub.
The Crown Prince affirmed that the government continues its efforts to support economic growth and maintain fiscal sustainability, thereby enhancing the resilience of the domestic economy against global challenges and fluctuations, while preserving the momentum of sustainable development. This is achieved through the continued adoption of flexible and disciplined fiscal, economic, and social policies based on long-term planning, and through the prudent use of sovereign financing tools in line with the Medium-Term Debt Strategy.
His Highness stated that the Kingdom has made unprecedented strides in youth empowerment, noting that the number of working Saudis in the private sector reached an all-time high of 2.5 million employees, which positively contributed to reducing Saudi unemployment to a record level—below the Vision 2030 target of 7%. He also highlighted the rise in high-quality job opportunities, the support for entrepreneurship, and the significant progress in empowering Saudi women and enhancing their participation across sectors.
His Royal Highness pointed to the continued development of the social support and subsidy ecosystem and its targeted direction towards the most deserving beneficiaries. He also stressed the Kingdom’s ongoing efforts to achieve balance in the real estate sector to facilitate access to housing for citizens and residents. He noted that homeownership among Saudi families reached 65.4% by the end of 2024, surpassing the 2025 target of 65%, in addition to expanding investment opportunities that serve the public interest.
The Crown Prince praised the positive indicators of the Saudi economy, which continue to reflect the sustained reforms under Vision 2030. Preliminary estimates point to real GDP growth of 4.6%, driven by non-oil activities growing at 4.8%, maintaining their pivotal role in driving economic growth.
His Highness stated that the 2026 budget reaffirms the government’s determination to strengthen the robustness and flexibility of the local economy in a manner that ensures sustainable growth and enables it to overcome global economic fluctuations. This includes maintaining sustainable levels of public debt and building substantial financial reserves. He noted that the Kingdom continues to achieve its targets at the local, regional, and international levels and maintains advanced positions in global indices and rankings, while continuing to focus on diversifying the economy, stimulating investment, and accelerating economic transformation in alignment with Vision 2030.
The Crown Prince emphasized that the Public Investment Fund, as the Kingdom’s investment arm, continues supporting the realization of Vision 2030 targets, developing strategic and promising sectors, and building strategic global partnerships, in complementarity with national efforts to diversify the economy and enhance long-term fiscal sustainability. He also highlighted the role of the National Development Fund and the development funds under its umbrella as complementary enablers to the state budget in supporting growth and economic diversification.
His Highness — may God protect him — affirmed that economic reforms continue with the aim of enhancing the role of the private sector in supporting growth and economic diversification, noting that the private sector’s contribution reached 50.3% of real GDP. He reiterated the government’s commitment to implementing programs and initiatives related to infrastructure development and improving the quality of essential services provided to citizens, residents, and visitors.
At the conclusion of his statement, the Crown Prince expressed pride in the Kingdom’s steadfast approach to investing in the capabilities of its sons and daughters, achieving comprehensive development, and leading across multiple fields, while continuing humanitarian efforts both inside and outside the Kingdom — upholding duty and grounded in values derived from the noble Islamic faith. His Highness concluded:
“We will continue moving forward with determination toward achieving our goals, seeking the help of God Almighty and placing our trust in Him.”