Saudi Arabia's 2026 budget: Crown Prince announces figures and spending priorities

His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, and Chairman of the Council of Economic and Development Affairs, affirmed that the approval of the 2026 budget underscores that the well-being of the citizen is at the forefront of the Saudi government's priorities. This came during His Highness's chairmanship of the Cabinet session held today, Tuesday, in Dammam, to approve the state's general budget for the upcoming fiscal year 1447/1448 AH (2026).

Saudi Arabia's 2026 budget figures

The Cabinet reviewed the detailed budget items and issued its decision approving the following figures:

• Public expenditures: 1,312,800,000,000 riyals (one trillion, three hundred and twelve billion and eight hundred million riyals).
• Public revenues: 1,147,400,000,000 riyals (one trillion, one hundred and forty-seven billion and four hundred million riyals).
• Estimated deficit: 165,400,000,000 riyals (one hundred and sixty-five billion and four hundred million riyals).

The context of Vision 2030 and economic transformation

In his remarks on the budget, His Royal Highness the Crown Prince explained that the achievements realized are the fruit of the directives of the Custodian of the Two Holy Mosques – may God protect him – and the tireless work of the sons and daughters of the nation. His Highness pointed out that the Kingdom has been witnessing a historic structural transformation since the launch of Vision 2030 , where economic policies have succeeded in significantly improving the growth rates of non-oil activities. This reflects the success of the strategy to diversify income sources and reduce total dependence on oil as the sole source of revenue.

Preliminary estimates indicate real GDP growth of 4.6% , driven by non-oil activities which grew at a rate of 4.8% , confirming the strength of the Saudi economy and its ability to create new investment and job opportunities away from the fluctuations of global energy markets.

Financial sustainability and addressing global challenges

His Highness added that the government continues to adopt flexible and disciplined fiscal and economic policies based on long-term planning. These policies aim to support economic growth and maintain the sustainability of public finances , thereby enhancing the local economy's ability to absorb shocks and confront global economic and geopolitical challenges. His Highness also noted the Kingdom's success in keeping inflation rates lower than global averages, which has contributed to protecting citizens' purchasing power and stabilizing local markets.

Strengthening the role of the private sector

The Crown Prince emphasized the vital role of the private sector as a strategic partner in development, noting that the new budget continues to support the business environment to solidify the Kingdom's position as a global economic and investment hub. The projected budget deficit is part of the strategic plan to allocate funds for major development projects and infrastructure that will benefit future generations, utilizing sovereign financing instruments systematically within the framework of the medium-term debt strategy.