Overview

• Authorities set 2026 expenditure at 1.31 trillion riyals and revenue at 1.14 trillion riyals, implying a 165 billion riyal deficit equal to 3.3% of GDP.
• The finance ministry now estimates a 2025 deficit of 245 billion riyals, or 5.3% of GDP, compared with the 101 billion riyal shortfall forecast last November.
• Real GDP growth is forecast at 4.4% in 2025 and 4.6% in 2026, led by gains in non‑oil activities.
• The statement signals continued deficits over the medium term at lower levels than in 2026 as spending supports economic transformation under Vision 2030.
• Planned financing includes domestic and international borrowing through bonds and sukuk, along with alternative channels such as project and infrastructure finance and export credit agency support.