Saudi Arabia approved the kingdom's budget for 2026 with an estimated deficit of 165 billion riyals ($44 billion), the Saudi state news agency reported on Tuesday.
The world's top oil exporter is more than halfway through its Vision 2030 economic transformation blueprint introduced by de facto ruler Crown Prince Mohammed bin Salman in 2016.
The strategy requires hundreds of billions of dollars in government investment.
The budget set the kingdom's total spending at 1.31 trillion riyals, with total revenues projected at 1.15 trillion riyals.
The Crown Prince said after the budget's approval that the economic transformation since Vision 2030 was launched improved the growth of non-oil activities and boosted the role of the private sector in the kingdom, the state news agency cited him as saying.
WTO advances world’s first digital trade rules despite opposition
Abu Dhabi boosts transparency, governance in real estate sector
Dr. Sultan Al Jaber dedicates leadership award to UAE President, frontline workers
Dubai achieves highest-ever ranking in Global Financial Centres Index
Stocks gain with oil prices easing on optimism from possible ceasefire talks
