The Ministry of Finance's FY2027 pre-budget statement, issued on 1 October, projects spending of about SAR 1.392 trillion against revenue of about SAR 1.202 trillion, a deficit of 3.6% of GDP. Real GDP is expected to shrink in 2026 because of lower oil output, but the government plans to keep spending on non-oil diversification and on reprioritised giga-projects.
Government · leader
King Salman bin Abdulaziz (Head of State); Crown Prince and Prime Minister Mohammed bin Salman (Head of Government)
Key national agenda
- Vision 2030 economic diversification and private-sector growth
- Fiscal sustainability (3.6% of GDP deficit; more project, infrastructure and export-credit financing)
- Priority to faster-return sectors: AI and data centres, religious tourism, logistics, mining
- Preparing for Expo 2030 Riyadh and the 2034 FIFA World Cup
- Local content and government procurement reform
Government programmes
FY2027 budget (pre-budget statement)Spending about SAR 1.392 trillion
Revenue about SAR 1.202tn; spending projected at about SAR 1.544tn by 2029. Real GDP expected to fall about 3.6% in 2026, with non-oil activity up about 3.2%
HUMAIN AI data-centre financingSAR 20 billion or more
PIF-owned HUMAIN is raising funds for 2 GW of data centres and GPUs around Riyadh, with Goldman Sachs reportedly advising
Expo 2030 Riyadh
Giga-project reprioritisation (incl. NEOM)
NEOM has been scaled into smaller phases and is under review; priority has shifted to tourism, urban development, advanced manufacturing, logistics and renewables
Dammam Metro
Planned urban rail network of about 50 km
Business opportunities
AI automation pilots for government (Arabic document processing, citizen service)
HUMAIN's data-centre build-out is coinciding with government discussions on AI ethics and adoption.
SDAIA, ministry digital units, municipal (Balady) agencies
Local-content entry consulting for Korean SMEs
Tighter local-content rules in procurement call for a joint-venture and local-registration strategy.
Korean SMEs and mid-sized manufacturers and service firms entering Saudi Arabia
Digital PMO for giga-project schedule and cost control
With projects being phased and reviewed, cost and schedule control matter more than before.
PIF developers (ROSHN, Red Sea Global, etc.), the Expo 2030 organisation
K-beauty and consumer-goods distribution entry support
MSS and KOTRA run a dedicated program for entering the Saudi market.
Korean cosmetics and consumer-goods SMEs
Korean support schemes
- K-Beauty Saudi Market Entry Support Program · MSS, Korean Embassy in Saudi Arabia, KOTRA Riyadh — Helps Korean cosmetics firms enter the Saudi market; an information session was held in July 2026.
- Export Voucher program · MSS / MOTIE — Covers costs for overseas certification, market research and localisation consulting.
Official notices
Ministry of Finance, Kingdom of Saudi Arabia
- 2026-10-01 FY2027 pre-budget statement (spending SAR 1.392tn, revenue SAR 1.202tn)
- 2026-09-22 Cabinet session chaired by the King: condemned Houthi attempts to target Makkah and reviewed recommendations from the AI ethics forum
- 2026-08-13 Royal decrees reconstituted the Cabinet under PM Mohammed bin Salman and replaced the chair of the Local Content and Government Procurement Authority (LCGPA)
Disaster · conflict · epidemic
High 2026-10-30
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Houthis fired 3 ballistic missiles and 4 drones at the east and south, intercepted (10/27); alerts in Riyadh and elsewhere · Houthi airport attacks in early Oct killed at least 20; armed conflict with Yemen's Houthis continues
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