The Kingdom of Saudi Arabia has officially approved a borrowing plan for the fiscal year 2026, which is projected to meet funding needs of approximately SAR217 billion (US$57.87 billion).
The decision was made by Mohammed Aljadaan, the Minister of Finance and Chairman of the National Debt Management Center (NDMC), following the plan's endorsement by the NDMC's Board of Directors. This borrowing plan is designed to address the anticipated budget deficit of SAR165 billion (US$44 billion) for the upcoming fiscal year, as detailed in the Ministry of Finance's official budget statement. Additionally, it will facilitate principal repayments for maturing debts, which are estimated to total around SAR52 billion (US$13.87 billion).
The approved plan outlines significant developments in public debt management during 2025, as well as initiatives aimed at enhancing local debt markets. It also sets forth the funding strategy for 2026, including guiding principles that will govern the borrowing process. Notably, the plan features a calendar for the issuance of local Saudi sukuk in riyals for the year ahead.
In pursuing its financial objectives, the Kingdom aims to ensure debt sustainability while diversifying its funding sources across both domestic and international markets. This strategy will involve the issuance of bonds, sukuk, and loans at competitive rates. Furthermore, the government intends to broaden alternative funding avenues through project and infrastructure financing, alongside support from export credit agencies, over the medium term.
2026-01-05
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