وزارة المالية تتوقع قفزة في نمو الاقتصاد السعودي بـ12.8% خلال العام المقبل 2027 Saudi Finance Ministry Expects Saudi Economy to Surge 12.8% in 2027

The Saudi Ministry of Finance expected the Kingdom’s economy to shift from an estimated contraction of about 3.6% in 2026 to an economic growth of 12.8% in 2027, before the pace of growth slows to 3.9% in 2028, then rises again to 5.7% in 2029, according to preliminary estimates contained in the preliminary statement of the Saudi budget that the ministry recently announced.

Saudi Arabia’s Ministry of Finance expects the Kingdom’s economy to shift from an estimated contraction of around 3.6% in 2026 to economic growth of 12.8% in 2027, before growth slows to 3.9% in 2028 and then rises again to 5.7% in 2029, according to preliminary estimates contained in the Kingdom’s recently released pre-budget statement.

The expected transformation in 2027 comes after a year that is expected to witness a decline in oil activities by 21.8%, while the Ministry expects non-oil activities to grow by 3.2% during 2026, which will mitigate the impact of the oil sector contraction on the economy.

The expected turnaround in 2027 follows a year in which oil-related activities are projected to decline by 21.8%, while the ministry expects non-oil activities to grow by 3.2% in 2026, helping to mitigate the impact of the contraction in the oil sector on the economy.

The Ministry's estimates indicate that the nominal GDP will rise from about 4.978 trillion riyals ($1.327 trillion) in 2026 to 5.358 trillion riyals ($1.429 trillion) in 2027, then 5.695 trillion riyals ($1.519 trillion) in 2028, and 5.869 trillion riyals ($1.565 trillion) in 2029.

Ministry estimates indicate that nominal gross domestic product will rise from approximately SAR 4.978 trillion ($1.327 trillion) in 2026 to SAR 5.358 trillion ($1.429 trillion) in 2027, then to SAR 5.695 trillion ($1.519 trillion) in 2028 and SAR 5.869 trillion ($1.565 trillion) in 2029.

It also expects inflation to stabilize at about 1.9% annually over the three years, and the upcoming budget estimates come amid expectations of a contraction in Saudi Arabia’s real GDP by 3.6% during 2026, as a result of the expected decline in oil activities by 21.8%.

The ministry also expects inflation to remain stable at around 1.9% annually over the three-year period. The budget estimates come amid expectations that Saudi Arabia’s real GDP will contract by 3.6% in 2026, driven by an expected 21.8% decline in oil-related activities.

On the other hand, non-oil activities are expected to grow by 3.2% during the current year, according to the Ministry of Finance.

Meanwhile, non-oil activities are expected to grow by 3.2% this year, according to the Ministry of Finance.