Story perspectives

Saudi Arabia Unveils $57.86 Billion Borrowing Plan for 2026

1/5/2026

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Summary

Story summary

Saudi Arabia's finance minister approved a 2026 borrowing plan totaling 217 billion riyals ($57.86 billion) to cover a projected $44 billion budget deficit.
The plan marks the start of Vision 2030's third phase, aimed at maximizing economic reforms.
The National Debt Management Center expects 20–30% from domestic markets and 25–30% from international markets, with total financing needs falling to about $58 billion in 2026 from $107 billion in 2025.

History

Historical Context

In January 2016, Saudi Arabia launched Vision 2030 under Crown Prince Mohammed bin Salman to diversify its economy away from oil dependency, addressing a budget deficit of $79 billion that year. Despite previous attempts since the 1970s to reduce reliance on oil, the kingdom's economy remains heavily influenced by petroleum, which still accounts for about 22.3% of GDP.

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Story summary

Saudi Arabia's finance minister approved a 2026 borrowing plan totaling 217 billion riyals ($57.86 billion) to cover a projected $44 billion budget deficit.
The plan marks the start of Vision 2030's third phase, aimed at maximizing economic reforms.
The National Debt Management Center expects 20–30% from domestic markets and 25–30% from international markets, with total financing needs falling to about $58 billion in 2026 from $107 billion in 2025.

1 / 2