Saudi Arabia has approved its 2026 state budget, projecting revenues of $306 billion as the government sets out spending plans tied to ongoing economic reforms. The budget approved in Dammam sets revenue at SR1.15 trillion for 2026, a 5.1 percent increase from the 2025 estimate. Spending is planned at SR1.31 trillion, slightly lower than the figure set for 2025.
The Ministry of Finance said the government will continue to focus on spending efficiency, essential services, and major national projects under 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.
Updated figures show a projected deficit of SR245 billion in 2025, narrowing to about SR165 billion in 2026.
The ministry noted that “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”, adding that authorities aim to balance economic cycle responses with fiscal sustainability.
The budget maintains an outlook of 4.6 percent real GDP growth in 2026. Crown Prince Mohammed bin Salman said the spending plan “reaffirms the Kingdom’s commitment to placing citizens’ welfare at the center of government priorities”, instructing ministers to implement social and development programs tied to Vision 2030.
According to the Saudi Press Agency, he said the structural shift since Vision 2030’s launch has strengthened non-oil growth, contained inflation, improved the business environment, and expanded the private sector’s role. He added that the government continues to support growth through disciplined fiscal and economic policies, long-term planning and the use of sovereign financing tools.
Preliminary data cited by the crown prince show real GDP expanding 4.6 percent, backed by 4.8 percent growth in non-oil activities. He said the 2026 plan reflects the government’s commitment to a resilient economy, sustainable expansion and continued progress on diversification and investment objectives.