By Dr. Sameera Aziz
Saudi Arabia today stands at a decisive crossroads in its modern history — a nation where fiscal prudence walks hand in hand with visionary ambition. The recently released Pre-Budget Statement for Fiscal Year 2026 is not just a technical report; it is a powerful declaration of how the Kingdom is transforming its destiny.
With estimated expenditures of SR1,313 billion and revenues of SR1,147 billion, the projected deficit of 3.3% of GDP is a strategic step forward, not a challenge. This is a carefully calculated investment in long-term prosperity. By 2028, expenditures are projected to reach SR1,419 billion and revenues SR1,294 billion, reflecting consistent expansion and unstoppable momentum.
What makes this approach unique is that Saudi Arabia is not merely managing balance sheets — it is redefining what economic growth means. Guided by Vision 2030, the Kingdom’s fiscal path is a bridge to the centennial celebration in 2030, when economic strength and national pride will converge in a single historic moment.
Expenditure – Investing in Citizens and Progress:
Saudi Arabia continues to adopt an expansionary spending policy, but in a disciplined, purposeful way. Every riyal is directed to projects that touch the lives of citizens — education, healthcare, infrastructure, technology, culture, and sports. These are not temporary measures, but structural investments that guarantee long-lasting prosperity.
The message is clear: the people come first. Education prepares the youth, healthcare protects families, infrastructure builds opportunity, technology drives innovation, and sports strengthen national spirit.
At the same time, the government reminds us that the private sector is not a spectator but a full partner. By encouraging private sector participation, Riyadh ensures that the economy grows in a way that is diverse, balanced, and sustainable.
Growth and Fiscal Sustainability:
Even in a turbulent global environment, Saudi Arabia’s fiscal policies remain disciplined. The Kingdom’s public debt-to-GDP ratio stays within safe thresholds, supported by large reserves and flexible policy. This is a testament to the wisdom of the leadership and the stability of the nation.
GDP growth is projected at 4.4% in 2025, with non-oil activities expanding at 5%. Strong domestic demand and rising employment are driving this performance. The unemployment rate, once a national concern, has now fallen to a historic 6.8% — a proud milestone that reflects the success of reforms in the labour market.
Looking to 2026, real GDP growth is expected to reach 4.6%, powered by non-oil expansion. These achievements prove that Saudi Arabia’s fiscal policies are not just about numbers, but about empowering citizens, creating jobs, and strengthening the future of a diversified economy.
Reforms– A Transparent and Modern Framework:
For the past decade, the Kingdom has steadily advanced reforms that promote efficiency, transparency, and resilience. Regulations have been simplified, foreign investment encouraged, and financial disclosure strengthened.
The 2026 Pre-Budget Statement itself is proof of transparency, offering citizens and investors a clear vision of fiscal targets and risks. This openness builds trust, strengthens governance, and creates a fertile ground where small and medium enterprises can thrive.
Through tools such as sukuk, infrastructure bonds, and alternative financing, Saudi Arabia is also pioneering financial innovation — opening doors for broader participation and prosperity.
The Non-Oil Economy – A New Engine for Growth:
The Saudi growth story is no longer defined by oil alone. Today, tourism, renewable energy, financial services, and advanced technologies are driving revenues.
Mega-projects like NEOM, Qiddiya, and the Red Sea are not just construction projects — they are economic ecosystems. They represent new industries, new jobs, new lifestyles, and new cultural opportunities. By 2026, non-oil GDP will become the primary driver of growth, further establishing Riyadh as a global hub of innovation and investment.
The issuance of bonds and sukuk ensures this transition is financially sustainable, while infrastructure and funding programs showcase fiscal creativity. This is how Saudi Arabia is shaping a diversified, future-ready economy.
2030 – A Nation United, A Vision Fulfilled:
The centennial of Saudi Arabia’s unification in 2030 will not be an ordinary national day. It will be a once-in-history celebration of pride, resilience, and transformation.
Three milestones will define the Kingdom’s triumph:
- A Vibrant Society – healthier, longer lives, greater participation in sports and culture, and world-class urban standards.
- A Thriving Economy – diversified growth, doubled foreign investment, global leadership in tourism, technology, and renewables.
- An Ambitious Nation – efficient governance, fiscal prudence, and transparent institutions trusted by citizens.
On September 23, 2030, as the sun rises over Riyadh, Jeddah, and every city, the air will be filled with national songs and the voices of a proud people. Elders will recall the sacrifices of the past. Parents will celebrate prosperity. And youth will wave the flag declaring:
“Our tomorrow is brighter than today.”
The centennial will be more than a holiday — it will be a living proof of what unity between leadership and people can achieve.
From Budget to Legacy:
Saudi Arabia’s Pre-Budget Statement for 2026 is not just a fiscal plan. It is a blueprint of destiny. It signals that the Kingdom is on course to emerge by 2030 as a global model of resilience, innovation, and unity.
The centennial will stand as testimony that Saudi Arabia’s leadership and people marched together, turned dreams into achievements, and showed the world that this nation’s story is one of vision fulfilled and glory secured.
This is not just the Kingdom’s path to 2030.
This is the Kingdom’s promise to its people.
This is Saudi Arabia’s legacy to the world.
About the Author:
Dr. Sameera Aziz is a senior Saudi journalist, businesswoman, author, poet, and cross-cultural commentator based in Jeddah. Holding a PhD in Mass Media, she is one of the pioneers of female journalism in Saudi Arabia and a strong advocate for Vision 2030. She can be reached at: Consultant.sameera.aziz@gmail.com
