.png?locale=en)
Alsharq Tribune-Ahmed Essam
The Saudi Ministry of Finance on Tuesday released its pre-budget statement for fiscal year 2026, projecting real GDP growth of around 4.6 percent, supported by expected expansion in non-oil sectors.
According to the statement, strong non-oil activity and ongoing supportive initiatives are expected to boost revenues over the medium term. Total revenues are projected to reach approximately 1.15 trillion Saudi riyals (307 billion U.S. dollars) in 2026 and 1.29 trillion riyals by 2028, while total expenditures are forecast to be around 1.31 trillion riyals in 2026, rising to 1.42 trillion riyals in 2028.
Finance Minister Mohammed Al-Jadaan emphasized that the 2026 budget aims to strengthen the kingdom's financial position and ensure the sustainability of public finances, while supporting economic growth. The budget commits to maintaining development and social spending priorities and advancing structural reforms that enhance financial and economic efficiency and sustainability.
"In light of the continued global uncertainty during 2026 and over the medium term, as a result of the possibility of continued geopolitical tensions and increasing preventive policies, the government continues to monitor and analyze these risks, as a key element in enhancing the efficiency of financial planning, and proactively guide policies to address potential global economic challenges and reduce their negative impacts," he was quoted as saying by the statement.
According to the statement, the acceleration of implementing a number of programs and projects helped achieve tangible gains and grant financial flexibility, enabling the government to better respond to developments and adopt a fiscal policy to counter the economic cycle.
It also noted that since the launch of Saudi Vision 2030 in 2016, the kingdom's economy has undergone structural reforms that improved the business environment, strengthened the role of the private sector, and advanced sustainable development goals.
