Doha: Saudi Arabia's Cabinet, chaired by HH Crown Prince and Prime Minister of Saudi Arabia Prince Mohammed bin Salman bin Abdulaziz Al Saud, has approved the 2026 budget. The budget outlines projected revenues of 1.147 trillion riyals, expenditures amounting to 1.312 trillion riyals, and a resulting deficit of 165.4 billion riyals.

According to Qatar News Agency, the Saudi Crown Prince emphasized that the budget supports Vision 2030's upcoming phase. This phase focuses on accelerating execution, fostering growth, and continuing reforms that have enhanced non-oil sectors, contained inflation, and bolstered the private sector. The private sector now contributes 50.3 percent to the country's real GDP.

The Crown Prince highlighted the importance of advancing infrastructure, improving services, and ensuring spending is efficient and transparent. These efforts aim to achieve development goals while maintaining financial sustainability.