Saudi Arabia Announces 2026 Budget: Revenues SR1.147 Trillion, Spending SR1.312 Trillion
Saudi Arabia announced the state budget for the fiscal year 2026 on Tuesday, revealing total revenues of SR1.147 trillion and planned spending of SR1.312 trillion. This creates a projected deficit of SR165.4 billion, according to the Saudi Press Agency (SPA).
The budget was approved during a special Council of Ministers session held in Dammam, chaired by Crown Prince and Prime Minister Mohammed bin Salman.
The Crown Prince instructed ministers and government leaders to fully carry out all development and social projects included in the budget. He stressed that improving citizens’ lives must remain a top priority. Read: Saudi Arabia grants $90 million in financial support to Palestine
He explained that the Public Investment Fund (PIF) will continue supporting Vision 2030 by developing key sectors, forming major economic partnerships, and helping diversify the national economy. He also noted the important role of the National Development Fund and its affiliated funds in boosting growth alongside the state budget.
The Crown Prince confirmed that the government will continue working to strengthen economic growth and ensure long-term financial stability. This will be done through flexible financial and economic policies, long-term planning, and effective use of sovereign financing tools under the medium-term debt strategy.
He highlighted that the structural reforms since Vision 2030 began have helped increase the growth of non-oil sectors, keep inflation lower than global levels, improve the business environment, and enhance the private sector’s role in development. These reforms also support Saudi Arabia’s position as a leading international economic and investment hub.
According to initial estimates, the Saudi economy is expected to see real GDP growth of 4.6% in 2026, driven mainly by a 4.8% increase in non-oil activities. Recommend: Saudi Arabia and Russia introduces mutual visa exemption
The Crown Prince emphasized that the 2026 budget reflects the Kingdom’s determination to strengthen the local economy, support sustainable growth, and respond effectively to global challenges. He said the government will continue focusing on economic diversification, investment stimulation, and accelerating transformation in line with Vision 2030 goals.
He also expressed pride in Saudi Arabia’s continued commitment to developing the skills of its citizens, advancing in multiple sectors, and expanding humanitarian efforts inside and outside the country.
The Crown Prince reaffirmed that the Public Investment Fund will continue to play a major role in building promising sectors and supporting long-term financial sustainability. King Salman's guidance and the hard work of Saudi men and women led to all achievements, he noted.
He concluded by saying, “We will continue moving forward toward our goals, trusting in God and relying on Him.” See Also: King Khalid International Airport to launch biggest upgrade in 40 years
 |
| Saudi Arabia Announces 2026 Budget Revenues SR1.147 Trillion, Spending SR1.312 Trillion |