Saudi Arabia projects 1,392 billion riyal expenditure in 2027 budget

The Saudi Ministry of Finance has released its preliminary budget statement for the 2027 fiscal year. The government projects total expenditures of approximately 1,392 billion riyals against revenues of 1,202 billion riyals, resulting in an estimated deficit of 3.6% of the Gross Domestic Product (GDP).

Economic reforms under Saudi Vision 2030 have significantly boosted non-oil activities. Non-oil revenues rose from roughly 166 billion riyals in 2015 to 505 billion riyals in 2025. Projections suggest revenues will continue to climb, reaching 1,351 billion riyals by 2029, while expenditures are expected to reach 1,544 billion riyals in the same period to support strategic development projects.

Regarding 2026 economic indicators, preliminary estimates suggest a 3.6% decline in real GDP, driven by a projected 21.8% decrease in oil-related activities. However, non-oil activities are expected to maintain positive growth of 3.2%. Finance Minister Mohammed Al-Jadaan noted that the budget is managed with a long-term perspective to navigate global economic uncertainty and geopolitical developments.