Saudi Arabia estimates 2027 revenue at SAR 1.20T, spending at SAR 1.39T

Saudi Arabia’s Ministry of Finance released its preliminary 2027 budget estimates, projecting revenue of SAR 1.20 trillion and expenditure of SAR 1.39 trillion, with a deficit of SAR 191 billion.

The government plans to continue raising funds in domestic and international markets under its medium-term debt strategy, using public and private financing channels through bond and sukuk issuances and loans at fair cost. It also plans to expand alternative government financing through project and infrastructure financing and export credit agencies in 2027 and over the medium term, the Ministry of Finance said. 

The ministry expects the debt portfolio to increase at a measured pace by the end of fiscal year 2027 while maintaining debt sustainability.

Saudi Arabia’s real GDP is forecast to contract 3.6% in 2026, mainly due to a projected 21.8% decline in oil activities. Non-oil activities are expected to maintain positive growth of 3.2%, helping cushion the impact of the oil-sector contraction.

Real GDP growth is forecast to rebound to 12.8% in 2027 before moderating to 3.9% in 2028.

Inflation is expected to reach 2.1% in 2026 before easing to 1.9% in both 2027 and 2028.