RIYADH, Jan. 3 (Xinhua) -- Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan on Saturday approved the country's Annual Borrowing Plan for the 2026 fiscal year.
The kingdom's funding needs for 2026 are projected at around 217 billion Saudi riyals (around 57.9 billion U.S. dollars), intended to cover an expected budget deficit of 165 billion riyals and repay about 52 billion riyals in maturing debt, the Saudi National Debt Management Center said in a statement.
It also includes expanding alternative government financing, such as project and infrastructure funding and export credit agencies, during 2026 and over the medium term, within prudent risk management frameworks, the statement said.
The projected deficit for 2026 would equal roughly 3.3 percent of gross domestic product, down from an estimated 245 billion riyals for 2025, after lower oil prices and output weighed on revenue, and spending exceeded the budget by around 4 percent.
