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Saudi Arabia has reaffirmed its commitment to an expansionary fiscal strategy for the 2026 budget, with Minister of Finance Mohammed Aljadaan confirming that government spending will continue to increase to strengthen economic growth and long-term stability.
During a press conference announcing the Kingdom’s 2026 General Budget, Minister Aljadaan revealed that total expenditure will reach SAR 1.313 trillion in 2026, rising to SAR 1.419 trillion by 2028, supported by strong revenue growth and robust non-oil sector performance.
He highlighted that despite major national projects and strategic initiatives, the government remains focused on improving essential services education, health, social services, municipal services which will collectively reach SAR 533 billion in 2026.
The minister emphasized that the next phase of Vision 2030, beginning next year, will center on maximizing impact, with 93% of performance indicators already achieved or on track and 299 targets already met ahead of schedule. The Kingdom continues to record strong non-oil economic growth averaging 5%, along with a surge in MSMEs from 500,000 to 1.7 million, creating over 1.2 million jobs.
Budget deficits, he explained, remain strategic and planned, designed to generate returns higher than borrowing costs. With non-oil activities now contributing 55.4% to GDP and real GDP growth expected to reach 4.4% by end-2025, the minister affirmed confidence in continued expansion through 2026–2028.
He also noted the remarkable rise in the Public Investment Fund’s assets from SAR 150 billion to over SAR 800 billion supporting long-term economic sustainability.
As the Kingdom advances toward Vision 2030, expanding investment, enhancing services, and preparing for the post-2030 economic landscape, private-sector readiness will play a crucial role in shaping future growth.
How J K Supports Your Entry Into Saudi Arabia
At J K, we assist investors, companies, and SMEs in navigating Saudi Arabia’s evolving economic landscape. Our services include:
Saudi Business Setup & Licensing
Vendor Registration with Major Saudi Government Entities
Consultancy for Vision 2030 Compliance, Regulatory Updates & Corporate Structuring
Visa Processing, PRO Services & Documentation Support
