Saudi Arabia approves $57.87bn Annual Borrowing Plan for FY2026

Saudi Arabian funding needs for 2026 are projected to be approximately SAR217 billion (US$57.87 billion), which has been approved.

Mohammed Aljadaan, Minister of Finance and Chairman of the National Debt Management Center (NDMC) approved the Annual Borrowing Plan following its endorsement by the Board of Directors of the NDMC.

The amount of SAR217 billion is intended to cover the anticipated budget deficit of SAR165 billion (US$44 billion) for fiscal year 2026, as outlined in the Ministry of Finance’s official budget statement, as well as principal repayments for debt maturing during the year, amounting to approximately SAR52 billion (US$13.87 billion).

The plan highlights key developments in public debt during 2025, initiatives related to local debt markets, and the funding plan for 2026 and its guiding principles. It also includes the 2026 issuance calendar for the Local Saudi Sukuk Issuance Program in Saudi riyals.

In 2026, the Kingdom aims to maintain debt sustainability and diversify funding sources between domestic and international markets through public and private channels. This will be done by issuing bonds, sukuk, and loans at fair cost. It also plans to expand alternative government funding through project and infrastructure financing, as well as export credit agencies over the medium term.