Saudi Arabia has approved the state’s general budget for the fiscal year 1447/1448 AH (2026 AD), outlining SR1.31tn ($349.2bn) in expenditure and a projected deficit as the Kingdom continues to advance economic and development programmes under Saudi Vision 2030.
The decision was made during a Cabinet session chaired by Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, and Chairman of the Council of Economic and Development Affairs, held in Dammam on 2 December 2025.
The Cabinet reviewed the full items of the general budget before issuing its decision.
Saudi 2026 budget
- The approved state general expenditures amount to SR1,312,800,000,000 ($349.2bn)
- The state’s general revenues are estimated at SR1,147,400,000,000 ($305.9bn)
- The deficit is estimated at SR165,400,000,000 ($44bn)
During the session, the Crown Prince directed ministers and government officials to commit — each within their remit — to delivering the programmes, strategies, and development and social projects included in the budget.
The directive emphasised ensuring full alignment with the goals of Saudi Vision 2030, with citizens’ interests placed at the forefront of national priorities.
The 2026 budget reinforces the Kingdom’s continued commitment to economic transformation, infrastructure development and long-term socioeconomic progress.
Vision 2030
Marking the occasion of the budget approval, Crown Prince highlighted that Vision 2030 will enter its third phase in 2026, requiring intensified implementation and accelerated progress to ensure a long-term impact beyond 2030.
He noted that structural transformation since the Vision’s launch has already:
- Improved non-oil activity growth rates
- Kept inflation below global averages
- Strengthened the business environment
- Expanded the private sector’s role
- Consolidated the Kingdom’s position as a global economic and investment hub
The Crown Prince affirmed the government’s continued support for economic growth and fiscal sustainability through flexible, disciplined economic, fiscal and social policies. These policies rely on long-term planning and systematically use sovereign financing instruments under the medium-term debt strategy.
He added that the Kingdom aims to maintain sustainable public debt levels, build strong financial reserves and accelerate diversification efforts to enhance resilience amid global volatility.
Record private-sector employment
The Crown Prince stated that Saudi Arabia has achieved unprecedented progress in empowering youth, with 2.5m Saudi employees in the private sector, the highest level ever recorded. This pushed unemployment below the Vision 2030 target of 7 per cent.
He also highlighted major gains in the real estate sector, noting that homeownership among Saudi families reached 65.4 per cent by the end of 2024, surpassing the 2025 target.
Key national initiatives have focused on creating quality jobs, strengthening entrepreneurship, empowering women, expanding social assistance and broadening investment opportunities.
Strong economic indicators and non-oil growth
HRH the Crown Prince commended the positive indicators emerging under Vision 2030 reforms, including the preliminary estimate of 4.6 per cent real GDP growth, driven by a 4.8 per cent increase in non-oil activities.
He stated that the 2026 budget reinforces the Kingdom’s commitment to strengthening the flexibility and resilience of the local economy, maintaining spending efficiency and ensuring transparent implementation while completing all planned Vision 2030 projects.
The Crown Prince emphasised the continuing role of the Public Investment Fund (PIF) as the Kingdom’s investment arm, supporting Vision 2030 through the development of strategic sectors and the forging of global economic partnerships. He noted the complementary role of the National Development Fund and its affiliated entities in stimulating economic growth and diversification alongside the state budget.
He also highlighted that economic reforms have advanced the private sector’s contribution to 50.3 per cent of real GDP, underlining its importance in accelerating infrastructure development and improving essential services.
Closing his remarks, HRH the Crown Prince said the Kingdom takes pride in its commitment to developing human capabilities, advancing comprehensive development, achieving leadership across fields and continuing humanitarian efforts domestically and internationally.
