Finance Minister approves 2026 borrowing plan; financing needs expected at SAR 217B

Minister of Finance and Chairman of the National Debt Management Center, Mohammed Al-Jadaan, approved the annual borrowing plan for the fiscal year 2026, following its endorsement by the center.

According to a statement by the center, the plan outlines key developments in public debt during 2025, initiatives related to local debt markets, the financing plan for 2026 and its guiding principles, in addition to a review of the issuances calendar for the Kingdom’s local SAR-denominated Sukuk Program for 2026.

Based on the plan, expected financing needs for 2026 are estimated at approximately SAR 217 billion.

This amount will be used to cover the projected budget deficit for the fiscal year 2026—estimated at around SAR 165 billion according to the Ministry of Finance’s budget statement—as well as the repayment of debt principal due in 2026, amounting to approximately SAR 52 billion.

The center stated that in 2026 the Kingdom aims to maintain debt sustainability, expand the investor base, and diversify funding sources both domestically and internationally through public and private channels.

This will be achieved through the issuance of bonds, sukuk, and loans at fair cost levels, in addition to expanding alternative government financing activities, including project and infrastructure financing, as well as export credit agency financing during 2026 and over the medium term, within well-studied risk management frameworks.