SAUDI Arabia is projected to generate 1.15 trillion riyals ($310 billion) in revenue in 2026, a 5.1 per cent increase on the 2025 estimate, underscoring the gains from the kingdom’s ongoing economic diversification agenda, reports the Arab News.
The 2026 budget, approved yesterday by Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud during a Cabinet meeting in Dammam, sets total expenditure at 1.31trn riyals, slightly below the 1.34trn riyals planned for 2025, according to the Budget Statement released by the Ministry of Finance.
The ministry said the government remains focused on enhancing spending efficiency, bolstering the quality of essential services, and advancing giga-projects and priority national strategies aligned with the objectives of Saudi Vision 2030.
“These efforts include the continued development of infrastructure, improvements to quality of life, and strengthening public services for citizens, residents, and visitors,” the statement said.
Revised estimates for 2025 point to a budget deficit of 245bn riyals, equivalent to 5.3pc of gross domestic product. The deficit is expected to reach around 165bn riyals in 2026, or 3.3pc of GDP.
“The budget deficit is estimated to continue at lower levels over the medium term, due to the government’s adoption of targeted countercyclical spending policies,” the report noted.
The budget also projects real GDP growth of 4.6pc in 2026, in line with the figure outlined in the pre-budget statement issued in September.
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