Saudi Arabia Projects $44 Billion Deficit in 2026 as Vision 2030 Enters ‘Third Phase’

Описание: Saudi Arabia approved its 2026 state budget on Tuesday (December 2), forecasting a fiscal deficit of 165 billion riyals ($44 billion) as the kingdom shifts spending toward priority sectors including logistics, industry, minerals, artificial intelligence, and religious tourism.The projected deficit—about 3.3% of GDP—marks an improvement from the 245 billion riyals now expected for 2025 after weak oil prices and higher-than-planned spending widened the shortfall.The government says 2026 will mark the start of Vision 2030’s “third phase,” transitioning from launching reforms to maximizing their impact. Crown Prince Mohammed bin Salman has instructed ministries to focus on targeted, high-return sectors, while the Public Investment Fund scales back earlier megaproject ambitions.The budget forecasts 1.31 trillion riyals in spending and 1.15 trillion riyals in revenue next year, while public debt is expected to rise to 1.5 trillion riyals by end-2025. Officials say Saudi Arabia’s low debt levels provide room for the fiscal stance, though it remains exposed to oil market volatility.

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