2027 Revenue Outlook Offers Saudi Budget Flexibility
The article discusses the Saudi Ministry of Finance's revenue projections for the 2027 budget scenarios, which range from 1.134 trillion riyals in the lowest scenario to 1.261 trillion in the highest, with expenditures remaining around 1.392 trillion riyals. The difference between the highest and lowest scenarios amounts to 127 billion riyals, approximately 10.6% of the baseline scenario. The rise in the lower boundary in the minimum scenario has reduced the overall range of expectations compared to 2026. These scenarios rely on diversifying revenue sources, particularly highlighted by a significant increase in non-oil revenues, which reached 505 billion riyals in 2025, enhancing fiscal flexibility despite oil price fluctuations. Additionally, the expected nominal GDP growth of 7.6%, reaching 5.36 trillion riyals, supports the upper end of the projections. The Saudi economy continues to improve, approaching an additional two trillion riyals in the coming years.
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