The Saudi economy has recorded an exceptional growth of 80% since the launch of Vision 2030, exceeding the one trillion dollar mark for the first time. This achievement reflects well-planned financial policies that balance expansionary spending with maintaining strong financial positions.
The impact of investment in developing promising sectors is evident through the growth of the non-oil economy to historic levels, where the share of non-oil activities rose from 45% in 2016 to 55% today. This transformation was accompanied by a surge in non-oil government revenues, which increased by over 170%, rising from 185.7 billion riyals (approximately 49.5 billion dollars) in 2016 to 505 billion riyals (equivalent to 134.6 billion dollars) at the end of last year.
Details of the Event
This upward trajectory, supported by legal certainty and a business-friendly environment, has not only enhanced the Kingdom's global competitiveness but also outlined a clear roadmap for sustainable growth that will benefit future generations. The current budget is based on precise governance criteria that ensure financial discipline through the indicators of "expenditure deviation" and "deficit to GDP ratio," with ambitious deficit targets ranging between 5% and 7% in line with global standards.
Thanks to this balanced policy, liquidity in the economy reached historic levels of 3.167 trillion riyals, compared to approximately 1.799 trillion in 2016. The state adopted a well-considered expansionary fiscal policy, benefiting from moderate interest rates to diversify funding sources, ensuring that current financial gains translate into sustainable growth for future generations.
Background & Context
Despite the expansionary spending, the Kingdom maintained the stability of its financial position; public debt remains among the lowest in the G20, at less than 50% of GDP. The Kingdom successfully built solid reserves, reaching their highest level in five years in 2025, valued at 1.7 trillion riyals (approximately 453.3 billion dollars).
The public finances have undergone a radical transformation in their revenue structure, with non-oil government revenues doubling, recording growth exceeding 170% compared to 2016. These revenues jumped from 185.7 billion riyals (approximately 49 billion dollars) at the launch of the Vision to 505 billion riyals (approximately 134.6 billion dollars) during the past year.
Impact & Consequences
This growth in revenues coincided with an increase in the real GDP growth rate, which rose from 1.7% in 2016 to 4.5% last year, confirming the success of the strategy to diversify income and reduce reliance on oil fluctuations. The reform approach in legislative, regulatory, and structural fields has led to the Kingdom's advancement in global competitiveness indicators.
In the Global Competitiveness Yearbook, the country advanced 15 positions between 2021 and 2025, ranking 17th, surpassing larger economies. This progress was driven by a business-friendly environment that embraced investors, talents, and entrepreneurs.
Regional Significance
These achievements are indicative of the Kingdom's ability to achieve its economic goals, enhancing its status as an economic power in the region. Furthermore, the success of Vision 2030 could serve as a model for other Arab countries in their pursuit of sustainable development.
In conclusion, it is clear that the radical transformation witnessed by the Saudi economy is not just about numbers; it represents a complete redefinition of the Kingdom's economic identity, positioning it as a vital and reliable link in global trade.