Tag: Saudi Arabia

As Saudi Arabia approves its state budget for 2026, the country anticipates a narrowing fiscal deficit as they prioritize industry and logistics industries in an effort to increase non-oil-based revenue. The country is projecting a deficit of 165 billion riyals ($44 billion), about 3.3% of gross domestic product (GDP).

Despite its improvements, Saudi Arabia’s economy still struggles—hindered by oil dependency, high youth unemployment, fiscal sustainability challenges and fluctuating oil revenues. However, itseconomic reform plans, particularly Vision 2030, have improved the quality of life for their citizens and residents by expanding opportunities for growth, fostering greater global integration and enhancing governmental efficiency.

Despite supply chain challenges and two years of modest performance, Saudi Arabia’s economy is expected to grow next year, driven by increased oil output.