The Saudi Ministry of Finance concluded the proceedings of the 2026 Budget Forum in Riyadh, with wide attendance from Their Highnesses and Excellencies, along with leaders, officials, economists, and financial experts. The strong turnout underscored the Forum's importance as a national platform that showcases the key features of the upcoming phase of development pathways and the government's spending strategy.
Statements by the ministers and officials participating in the Forum's sessions highlighted the budget's direction toward improving essential services and advancing projects that directly impact citizens' lives and enhance their well-being. They also underscored the expansion of high-impact sectors—such as transportation & logistics, manufacturing, and technology—at a time when the Kingdom continues to build an economy capable of navigating global shifts while maintaining balanced and sustainable growth. This direction is grounded in the flexibility enabled by Saudi Vision 2030 and in the vital role of fiscal policy in supporting long-term economic growth.
Sustainable Development… The Budget as a Tool for Navigating Change
The Forum opened with a session titled “Sustainable Development in Budget 2026," during which Minister of Finance H.E. Mohammed Aljadaan and Minister of Economy and Planning H.E. Faisal Alibrahim delivered key messages underscoring the shift of the budget from being “just numbers" to a carefully guided strategic tool for fostering growth, diversifying the economy, and safeguarding national gains.
In his remarks, Minister Aljadaan emphasized that the Kingdom's fiscal policy is designed to reflect the nature of its national economy. Since the launch of Saudi Vision 2030, public finance has served as a fundamental pillar of stability. With the contribution of non-oil activities now reaching 56%, the Kingdom continues to reinforce this trajectory and elevate its growth rates going forward. He noted that spending efficiency does not necessarily mean reducing expenditure, and that financial discipline and efficient spending have become a widespread culture embraced by Saudi professionals across sectors.
A Shift Toward High-Impact Sectors
For his part, H.E. Faisal Alibrahim emphasized that the 2026 Budget focuses on elevating spending efficiency and directing expenditures toward sectors that generate higher economic and social value. He noted that Saudi Vision 2030 has created a highly competitive environment that has attracted more than 600 global companies. Pharmaceutical localization has increased from 20% to 35%, and military localization growing from 4% to over 20%, reflecting a strong response from the private sector.
Minister Alibrahim also highlighted that 74 sectors have grown over the past five years by more than 5% annually, with 37 of the 81 non-oil activities recording growth of around 10%.
He added that the Kingdom's voice is central in discussions on the future of the global economy and that Saudi Arabia plays a strategic international role. As one of the world's twelve largest countries by land area, the Kingdom is working to become a global logistics hub connecting continents—an ambition expected to generate major opportunities across infrastructure projects and investments, one of the fastest-growing asset classes worldwide.
Enhancing Essential Services… Investing in People First
The second session featured the participation of the Ministers of Health, Education, and Human Resources & Social Development, who underscored that people remain at the heart of the 2026 Budget's priorities.
Minister of Human Resources and Social Development, Eng. Ahmed Alrajhi, stated that the Ministry's ecosystem contributes to eight Vision 2030 programs and works toward achieving 26 strategic objectives through more than 100 initiatives. Minister Alrajhi noted that women's participation in the labor market has risen to 34%, while Saudi unemployment has declined to 6.8%. He added that the Ministry launched an ambitious labor market strategy in 2020 comprising 28 reform initiatives, and is currently developing another strategy aimed at positioning Saudi Arabia among the world's best labor markets.
Minister of Health H.E. Fahad Al Jalajel noted that the health sector's contribution to GDP has increased to 5%, and deaths from infectious diseases have dropped by 50%. Health coverage has reached 94.7٪, placing the Kingdom among the highest globally.
For his part, Minister of Education H.E. Yousef Al-Benyan explained that the 2026 Budget allocated SAR 202 billion to education, including SAR 30 billion dedicated to operating expenses. He emphasized that the Kingdom is investing in human capital, noting that the Human Capability Development Program—one of Saudi Vision 2030's flagship programs—has transformed education from a service sector into a growth driver.
He added that 66% of Saudi scholarship students now study at the world's top 50 universities, and 100,000 gifted students have earned 335 local, regional, and international awards.
Promising Sectors… Building a New Economy
The Forum's third session, titled “Promising Sectors in Line with Government Spending Targets," focused on high-potential sectors: tourism and sports.
H.H. Princess Haifa Al Saud, Vice Minister of Tourism, noted that tourism spending reached SAR 275 billion, with more than 116 million domestic and international visitors. She added that European tourist arrivals increased by 14%, while tourists from East Asia and the Pacific rose to 15%. H.H. Haifa emphasized the importance of domestic tourism as a fundamental driver of sustainable sectoral growth, adding that the Kingdom aims to reach 150 million tourists by 2030.
H.E. Bader Alkadi, Vice Minister of Sport, highlighted that 70% of sports events in the Kingdom are operated by Saudi Arabia's talented citizens. He underscored the importance of private-sector partnership in achieving the goals of the National Sports Strategy, noting that the sports market is currently valued at SAR 32 billion and is expected to grow to SAR 80 billion by 2030.
Infrastructure… Smart Cities and the Roads of the Future
The fourth session reaffirmed that infrastructure spending now encompasses smart cities, integrated mobility, and advanced logistics.
H.E. Majid Al-Hogail, Minister of Municipalities and Housing, revealed that more than 1.2 million beneficiaries will have received housing services through the Ministry by the end of 2025. He added that 50,000 families have been enabled to own homes through developmental housing programs, and 16,000 beneficiaries who were unable to meet payment obligations have been supported.
Meanwhile, H.E. Eng. Saleh Al-Jasser, Minister of Transport and Logistics Services, noted that the sector continues to advance steadily toward its goal of transforming the Kingdom into a global logistics hub.
National Projects… From Planning to Results
H.E. Eng. Ahmad Al-Ohali, Governor of the General Authority for Military Industries, highlighted the budget's role in building an industrial ecosystem capable of meeting 40.7% of military needs in 2024—strengthening industrial security and supporting economic growth.
H.E. Eng. Khalil bin Salamah, Vice Minister of Industry and Mineral Resources for Industrial Affairs, shared the success story of the Industrial Competitiveness Program, noting the sector's strategic direction toward increasing its production capacity to raise its GDP contribution to SAR 1.4 trillion by 2035.
H.E. Dr. Najem Alzaid, Vice Minister of Justice, presented the story of digital transformation within the judiciary, explaining how the Ministry shifted from traditional service models to advanced digital services—reducing in-person visits, decreasing reliance on paper, and simplifying procedures for users inside and outside the Kingdom.
H.E. Eng. Suliman Al-Mazroua, President of the Saudi Ports Authority (Mawani), showcased the success story of the “Saudi Ports… Partnership and Enablement" project, noting that investments in the ports sector have exceeded SAR 30 billion since the start of Saudi Vision 2030, increasing port capacity by 50%.
The 2026 Budget Forum builds on the Ministry of Finance's ongoing efforts to strengthen transparency and enhance engagement around the national budget's direction. It highlights the budget's role in enabling development, supporting high-potential sectors, stimulating private sector participation, improving the quality of life, and reaffirming the budget as a key driver of economic development and a tool for bolstering the Kingdom's readiness to navigate global shifts.