Saudi Arabia approved its 2026 national budget on Tuesday, projecting a deficit of 44.1 billion dollars, as the Kingdom continues to invest heavily in its long-term economic transformation and reduce its dependence on oil revenues.
Despite lower revenues, authorities stressed that spending levels will remain consistent to sustain key national projects, infrastructure development, and economic diversification efforts © Mena Today
Saudi Arabia approved its 2026 national budget on Tuesday, projecting a deficit of 44.1 billion dollars, as the Kingdom continues to invest heavily in its long-term economic transformation and reduce its dependence on oil revenues.
The deficit, estimated at 165 billion riyals, or 3.3% of GDP, reflects ongoing spending to support the Vision 2030 reform agenda, which aims to expand sectors such as tourism, technology, logistics and green energy.
According to the Ministry of Finance, government expenditures for 2026 are expected to reach 1.313 trillion riyals (about 350 billion dollars), maintaining a relatively stable trajectory. Revenues, however, are forecast to fall to 1.147 trillion riyals, mainly due to weaker oil prices and global market uncertainties.
Despite lower revenues, authorities stressed that spending levels will remain consistent to sustain key national projects, infrastructure development, and economic diversification efforts.
Saudi Arabia has posted several consecutive budget deficits as it channels substantial resources into megaprojects, industrial expansion and social development initiatives — pillars of Crown Prince Mohammed bin Salman’s long-term plan to reshape the Kingdom’s economic landscape.
Officials emphasise that the medium-term fiscal path remains “stable and sustainable,” supported by strong non-oil sector growth and ongoing improvements in public financial management.
Saudi Arabia’s push to turn mining into a pillar of its post-oil economy got a major boost this week after a leading local operator reported the discovery of around 11 million tonnes of high-potential mineral resources in the kingdom’s southwest.
The U.S. State Department has approved the potential sale of support and training for military helicopters and related equipment to Saudi Arabia for an estimated cost of $1 billion, the Pentagon said on Monday.
Saudi Arabia wants to attract a greater number of Japanese companies as the kingdom accelerates efforts to draw foreign investment and support its broad economic diversification agenda, the head of its sovereign wealth fund said on Monday.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.
