Saudi Arabia Approves 2026 Budget

The Kingdom of Saudi Arabia has officially approved its state budget for the year 2026, which outlines a total expenditure of $349.2 billion, alongside projected revenues of $305.9 billion, resulting in a budget deficit of $44 billion. This decision was reached during a Cabinet meeting held on December 2, 2025, in Dammam, under the leadership of Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, who also serves as Prime Minister and Chairman of the Council of Economic and Development Affairs. The approved budget reflects a significant allocation of general expenditures amounting to approximately SR1.31 trillion ($349.2 billion). In contrast, the anticipated general revenues are estimated at around SR1.15 trillion ($305.9 billion), highlighting the financial framework within which the government plans to operate in the coming year. The projected deficit of SR165.4 billion ($44 billion) underscores the challenges the Kingdom faces as it seeks to balance its economic ambitions with fiscal realities. During the Cabinet session, the Crown Prince urged ministers and government officials to ensure that their respective departments adhere to the execution of the various programs, strategies, and development projects outlined in the budget. This directive emphasizes the importance of aligning these initiatives with the overarching objectives of Saudi Vision 2030, a strategic framework aimed at diversifying the economy and reducing dependence on oil revenues. The Crown Prince's guidance places a strong focus on prioritizing the interests of citizens as a central element of national policy. The 2026 budget serves as a testament to Saudi Arabia's ongoing commitment to economic transformation, infrastructure enhancement, and long-term socioeconomic development, reflecting the Kingdom's aspirations for a sustainable future.

---