Vision 2030: Strong Saudi growth outlook through 2027

Over the past decade, Saudi Arabia experienced a transformation that reshaped its economic structure through comprehensive reforms aimed at diversifying income sources and achieving sustainable growth.

This enabled the economy to absorb shocks and reduced the impact of economic cycles on development.

Major international organizations and leading global credit institutions affirmed the progress achieved by the Saudi economy, which strengthened the Kingdom’s financial position and enhanced its ability to overcome challenges and keep pace with rapid advancements across various sectors, supported by ongoing reforms.

The strength of the Saudi economy also reflects in forecasts from international organizations and the Ministry of Finance (MoF), which anticipate continued growth in 2026 and 2027, supported by the ongoing expansion of non-oil sectors, as well as the solid fiscal position and state budget, which have become more transparent, flexible, and forward-looking.

The MoF expects the Saudi economy to grow by 5.6% in 2026, while the International Monetary Fund (IMF) projects a 3.1% growth for the same year.

Similarly, the World Bank (WB) estimated the Saudi economy to grow by 4.3% in 2026.

*The Organization for Economic Co-operation and Development

The state budget followed an expansionary policy, benefiting from relatively lower interest rates, to diversify funding sources and direct spending toward strategic sectors that are important for citizens and future development opportunities.

This was reflected in the growth of nominal gross fixed capital formation (GFCF), which increased—supported by government spending—to more than SAR 1.44 trillion by the end of 2025, thereby contributing to empowering citizens, investors, and private sector companies.

Public debt remained at low levels compared to global standards and is among the lowest within the G20.

The Kingdom operates under a strategy aimed at maintaining a balance between continued spending to achieve economic and social returns, and keeping debt levels stable below 50% of GDP, primarily by expanding the size of the Saudi economy.

At the same time, the Kingdom maintains strong reserve levels, which reached their highest level in five years in 2025 at SAR 1.7 trillion.