{"id":103206,"date":"2025-12-10T00:00:00","date_gmt":"2025-12-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/12\/10\/wall-street-analysts-see-wider-saudi-budget-deficit-in-2026\/"},"modified":"2025-12-10T00:00:00","modified_gmt":"2025-12-10T00:00:00","slug":"wall-street-analysts-see-wider-saudi-budget-deficit-in-2026","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/12\/10\/wall-street-analysts-see-wider-saudi-budget-deficit-in-2026\/","title":{"rendered":"Wall Street analysts see wider Saudi budget deficit in 2026"},"content":{"rendered":"

Wall Street banks expect Saudi Arabia\u2019s budget deficit to remain wider than its expected<\/strong> 3.3% of GDP<\/a><\/strong> in 2026<\/strong>, after a year of heavy spending and record bond issuance to fund major infrastructure projects, Bloomberg<\/a> reports, citing analysts at Goldman Sachs and Bank of America. Goldman Sachs projects the deficit at 6% next year \u2014 even higher than 2025\u2019s estimated 5.3% \u2014 implying another USD 25 bn in international borrowing, while Bank of America puts the shortfall at around 5%.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

Government banks on revenue recovery:<\/strong> The government says revenues will rebound on the back of a strong non-oil economy and higher oil output following Opec+ agreements, and it has already slowed some Vision 2030 megaproject spending to prevent overheating.<\/p>\n

But analysts flag oil price constraints:<\/strong> Foreign analysts remain unconvinced, pointing to Brent crude near USD 63 \/ bbl \u2014 far below the roughly USD 100 price that Bloomberg Economics says Saudi Arabia needs to balance its budget.<\/p>\n

Borrowing set to stay elevated:<\/strong> Riyadh has issued about USD 20 bn in foreign currency bonds this year \u2014 just shy of a record \u2014 and Finance Minister Mohammed Al Jadaan signaled the Kingdom will continue to borrow rather than draw down reserves during the unveiling of the 2026 Budget. With debt at roughly 30% of GDP, Saudi Arabia plans to diversify funding through syndicated loans and Asian investors to avoid higher borrowing costs.<\/p>\n","protected":false},"excerpt":{"rendered":"

Government banks on revenue recovery and higher oil output, but banks see the budget deficit staying near 5-6% of GDP<\/p>\n","protected":false},"author":1,"featured_media":103207,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2571],"tags":[4148,27,10,335,1365],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-103206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-budget-watch","tag-economy","tag-enterpriseam-ksa","tag-gdp","tag-non-oil-economy","wpautop","entry"],"acf":{"mongo_id":"3d524e86-36fc-488e-8162-8c31eefab6d2","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/12\/624.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Wall Street expects Saudi fiscal gap to stay wide despite spending adjustments","related_issue":[103201],"teaser":"Government banks on revenue recovery and higher oil output, but banks see the budget deficit staying near 5-6% of GDP","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/12\/.69a71f1c-9a99-4b17-9d32-6fb4db3e50f9.mp3"},"yoast_head":"\nWall Street analysts see wider Saudi budget deficit in 2026 - 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