Riyadh: The first half of December marked a decisive conclusion to the year for Saudi Arabia, characterized by the approval of a robust 2026 budget, major diplomatic breakthroughs, and the acceleration of its innovation ecosystem.
According to Saudi Press Agency, the Cabinet, chaired by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, approved the general state budget for the fiscal year 2026, allocating SAR1.313 trillion in expenditures against estimated revenues of SAR1.147 trillion. This expansionary fiscal stance is supported by strong economic fundamentals, with GDP growing by 4.8% in the third quarter of 2025, driven by an 8.3% rise in oil activities and sustained 4.3% growth in the non-oil economy.
Saudi Arabia also deepened its regional and international partnerships. A high-profile visit by the Amir of Qatar culminated in a joint statement highlighting a 634% growth in bilateral trade since 2021 and the signing of an agreement for a high-speed rail link connecting Riyadh and Doha. Simultaneously, Saudi Arabia and Russia inaugurated a new era of cooperation by signing a mutual visa exemption agreement, making Russia the first country to sign such a deal with the Kingdom for regular passport holders.
Saudi Arabia took strides in localizing advanced industries. King Abdulaziz City for Science and Technology (KACST) and Lucid Group inaugurated the first Electric Vehicle Innovation Center in the Middle East in Riyadh, a facility designed to enhance the Kingdom’s capabilities in future mobility and smart systems. In the medical field, King Faisal Specialist Hospital performed a tumor resection using 3D-printing technology, establishing the Kingdom as a hub for medical innovation.
Saudi Arabia provided $90 million in financial support to the State of Palestine and reported SAR73.1 billion in revenues for the nonprofit sector in 2024, marking a 22% increase. The industrial and mining sector employed 151,000 Saudi citizens with HRDF support since 2020.
The National Development Fund signed SAR6 billion worth of agreements at the MOMENTUM 2025 conference. Hail Region attracted 3 million visitors in the first half of 2025, and Saudi ports saw an 8.22% increase in transshipment containers in November 2025.
The Kingdom achieved a 149% self-sufficiency rate for shrimp in 2024, highlighting progress in food security. Riyadh Airports Company set a safety record with 25 million safe man-hours. KAUST scientists projected a $275 million market value by 2030 for a blue pigment discovered using algae and chocolate waste.
KSrelief and the OIC provided 14 ambulances to the Kurdistan Region of Iraq. Moody’s reaffirmed Saudi Arabia’s Aa3 credit rating with a “stable” outlook. The Farasan Islands Reserve recorded over 10,000 migratory waterbirds, reaffirming its ecological importance.
Saudi Arabia now has eight cities in the UNESCO Global Network of Learning Cities, following the addition of Riyadh, AlUla, and Riyadh Al-Khabra. KSrelief and the UK Foreign Office pledged $17.8 million in humanitarian aid to Yemen and Bangladesh. Expo 2030 Riyadh is expected to involve 197 countries and attract over 42 million visits.
These figures reflect a nation that is steadily growing its economy, responsibly managing its fiscal future, and expanding its global footprint through both trade and humanitarian leadership.
