Periodical Briefing: Saudi Arabia Approves 2026 Budget, Cements Alliances, Pioneers Future Mobility
The first half of December marked a decisive conclusion to the year for Saudi Arabia, characterized by the approval of a robust 2026 budget, major diplomatic breakthroughs, and the acceleration of its innovation ecosystem.
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Fiscal Strength and Economic Growth
The Cabinet, chaired by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, approved the general state budget for the fiscal year 2026, allocating SAR1.313 trillion in expenditures against estimated revenues of SAR1.147 trillion. This expansionary fiscal stance is supported by strong economic fundamentals, with GDP growing by 4.8% in the third quarter of 2025, driven by an 8.3% rise in oil activities and sustained 4.3% growth in the non-oil economy.
Diplomatic Leadership and Regional Integration
Saudi Arabia deepened its regional and international partnerships. A high-profile visit by the Amir of Qatar culminated in a joint statement highlighting a staggering 634% growth in bilateral trade since 2021 and the signing of an agreement for a high-speed rail link connecting Riyadh and Doha. Simultaneously, Saudi Arabia and Russia inaugurated a new era of cooperation by signing a mutual visa exemption agreement, making Russia the first country to sign such a deal with the Kingdom for regular passport holders.
Innovation and Future Industries
Saudi Arabia also took strides in localizing advanced industries. King Abdulaziz City for Science and Technology (KACST) and Lucid Group inaugurated the first Electric Vehicle Innovation Center in the Middle East in Riyadh, a facility designed to enhance the Kingdom’s capabilities in future mobility and smart systems. In the medical field, King Faisal Specialist Hospital performed a groundbreaking tumor resection using 3D-printing technology, further establishing the Kingdom as a hub for medical innovation.
The period by numbers:
$90 Million: The amount of recent financial support presented by Saudi Arabia to the State of Palestine.
SAR73.1 Billion: The total revenues of the nonprofit sector in 2024, marking a 22% annual increase.
151,000: The number of Saudi citizens employed in the industrial and mining sector with HRDF support since 2020.
SAR6 Billion: The value of 45 agreements signed by the National Development Fund at the MOMENTUM 2025 conference.
3 Million: The number of visitors to Hail Region in the first half of 2025.
8.22%: The increase in transshipment containers at Saudi ports in November 2025.
149%: The self-sufficiency rate for shrimp in Saudi Arabia in 2024, highlighting food security progress.
25 Million: The number of safe man-hours achieved by Riyadh Airports Company, setting a new safety record.
$275 Million: The projected global market value by 2030 for the blue pigment discovered by KAUST scientists using algae and chocolate waste.
14: The number of ambulances provided by KSrelief and the OIC to the Kurdistan Region of Iraq.
Aa3: The updated credit rating reaffirmed for Saudi Arabia by Moody's, with a "stable" outlook, underscoring the Kingdom's robust government balance sheet.
+10,000: The number of migratory waterbirds recorded in the Farasan Islands Reserve, reaffirming its status as a key ecological hub.
8: The total number of Saudi cities now in the UNESCO Global Network of Learning Cities, following the addition of Riyadh, AlUla, and Riyadh Al-Khabra.
$17.8 Million: The value of humanitarian aid pledged to Yemen and Bangladesh in a joint statement between KSrelief and the UK Foreign Office.
197: The number of countries expected to participate in Expo 2030 Riyadh, which is projected to attract over 42 million visits.
These figures reflect a nation that is steadily growing its economy, responsibly managing its fiscal future, and expanding its global footprint through both trade and humanitarian leadership.
