Saudis Won’t Let Low Oil Distract From Spending, Borrowing Plans

Saudi Arabia plans to stick to elevated spending and active borrowing to keep economic diversification at the forefront of the kingdom’s agenda — despite the challenge of lower oil prices.

The Ministry of Finance expects to spend 1.3 trillion riyals ($350 billion) in 2026, slightly lower than this year, and hold that pace through 2027, according to a government budget statement released Tuesday. Revenues are expected to recover after dipping in the last year.