RIYADH — Saudi Arabia's Minister of Finance and Chairman of the National Debt Management Center Mohammed Al-Jadaan has approved the Kingdom's annual borrowing plan for the 2026 fiscal year, following its endorsement by the center's board of directors. The plan outlines key developments in public debt during 2025, initiatives related to local debt markets, and the financing plan and guiding principles for 2026. It also includes a review of the issuance calendar for the Kingdom's local Saudi riyal-denominated sukuk program for 2026. According to the plan, the Kingdom's expected financing needs for 2026 are estimated at around SR217 billion ($57.9 billion). This includes covering the projected budget deficit for 2026, estimated at approximately SR165 billion, according to the Ministry of Finance's budget statement for the fiscal year, as well as the repayment of debt principal due in 2026, estimated at around SR52 billion. The Kingdom aims in 2026 to maintain debt sustainability, expand its investor base, and diversify funding sources domestically and internationally through both public and private channels. This will be achieved through the issuance of bonds, sukuk and loans at fair cost, in addition to expanding alternative government financing through project financing, infrastructure financing and export credit agencies during 2026 and over the medium term, within well-studied risk management frameworks.
