31 Days
Source:
البلاد
Saudi Arabia projects 12.8%GDP rise in 2027
Saudi Arabia expects its economy to achieve a growth of 12.8% in 2027 after contracting by 3.6% this year, with the anticipated gross domestic product rising to 5.36 trillion riyals from about 4.98 trillion riyals in 2026. This rebound is driven by government policies that continue to support growth, with the fiscal deficit decreasing to 191 billion riyals in 2027 compared to the expected 245 billion riyals in 2026. The country is also reducing its reliance on oil and boosting non-oil activities, which grew by 3.2%. Saudi Arabia continues to manage its budget flexibly to face geopolitical uncertainties, with a fiscal deficit expected to persist until 2029, as revenues gradually increase and sources of income are diversified to support financial sustainability.
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