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Saudi Arabia forecasts 12.8% growth in 2027
Saudi Arabia expects its economy to experience a strong rebound in 2027, with real GDP growth of 12.8%, following a 3.6% contraction in 2026 due to pressures on the oil sector, which is forecasted to shrink by 21.8%. Conversely, non-oil activities are expected to contribute 57.3% of the GDP during the first half of 2026, supported by domestic demand. The government also anticipates a reduction in the budget deficit to around 191 billion Riyals in 2027, equivalent to 3.6% of GDP, down from an expected deficit of 245 billion Riyals in 2026. Despite the increase in revenues, the deficit is projected to persist until 2029.
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