Arabic
With the help of Allah the Almighty
We, Salman bin Abdulaziz Al-Saud,
the King of the Kingdom of Saudi Arabia,
after perusal of articles 72, 73, 76, and 78 of the Basic Law of Governance issued by Royal Order O/90 dated 27 Sha’ban 1412 [2 March 1992],
after perusal of articles 25, 26, and 27 of the Law of the Council of Ministers issued by Royal Order O/13 dated 3 Rabi Al-Awwal 1414 [21 August 1993],
after perusal of Royal Decree D/6 dated 12 Rabi Al-Thani 1407 [13 December 1986], which stipulates that the financial year of the state begins on the tenth day of the month of the Capricorn astrological sign of each year,
after perusal of Council of Ministers Decision 157 dated 12 Ramadan 1420 [20 December 1999] and Decision 153 dated 17 Rabi Al-Thani 1435 [17 February 2014],
after perusal of Royal Order 28652 dated 10 Rabi Al-Thani 1447 [2 October 2025] and Royal Order 39313 dated 14 Jumada Al-Awwal 1447 [5 November 2025],
after perusal of Council of Economic and Development Affairs Recommendation 1-4/47/R dated 3 Rabi Al-Thani 1447 [25 September 2025],
after perusal of the data on the determination of state revenues and expenditures for the financial year 1447/1448 [2026], submitted by the Minister of Finance Letter 5299 dated 4 Jumada Al-Thani 1447 [25 November 2025],
and after perusal of Council of Ministers Decision 428 dated 11 Jumada Al-Thani 1447 [2 December 2025],
have decreed as follows
First
The state revenues and expenditures for the financial year 1447/1448 [2026] are hereby determined and approved in accordance with the following:
1․ The revenues are determined at 1,147,400,000,000 Riyal.
2․ The expenditures are approved in the amount of 1,312,800,000,000 Riyal.
3․ The deficit is determined at 165,400,000,000 Riyal.
Second
The revenues referred to in clause First(1) of this decree must be collected in accordance with the financial laws, and all revenues must be deposited through the Irad platform in the unified treasury account—formerly the current account of the Ministry of Finance—in the Saudi Central Bank in accordance with Royal Order 55685 dated 30 Dhu Al-Qa’dah 1438 [23 August 2017], without prejudice to the provisions of Royal Order 5445 dated 29 Muharram 1442 [17 September 2020], and the legal provisions issued in this regard, as well as the provisions of the laws, statutes, organizational arrangements, orders, Council of Ministers decisions, or directives.
Third
Expenses must be disbursed in accordance with the general budget of the state and the instructions relating to it. It is not permitted to use an appropriation for purposes other than those for which it is allocated, or to issue an order for commitment or disbursement in excess of the appropriation or commitment for any expenditure that does not have an appropriation in the budget.
Fourth
Government agencies and public entities—whether their budgets are attached to the general budget of the state or not attached in agreement with the Ministry of Finance—shall utilize their available balances in their bank accounts allocated for expenses and legally retained by placing them in deposits with banks or a call account with returns in a manner that does not affect the disbursement of entitlements at their scheduled times, unless the laws, statutes, organizational arrangements, orders, or decisions stipulate otherwise.
Fifth
The Minister of Finance is authorized—with regard to covering the deficit of the general budget of the state—to do the following:
1․ Withdrawing from the general reserve account of the state.
2․ Issuing debt instruments, issuing sukuk of all kinds, borrowing, and financing in all its forms, whether locally or internationally, directly or indirectly, and the requirements arising from this from the following:
(a) Entering into any agreement or conducting any transaction similar in nature to borrowing, and commercially requiring borrowing or financing and the like, entering into hedging contracts and agreements to manage public debt risks and adopting the necessary policies in this regard, determining the mechanisms for paying the fee received in exchange for services, including determining the percentages of debt amounts that are collected for the services provided, and entering into specialized electronic services agreements to support research and financial evaluation of debt instruments and their payment methodologies.
(b) Disposing of—by sale, lease, usufruct, mortgage, or other disposals—assets, rights, and obligations, tangible and intangible, current and future, including state real estate, and recovering assets, rights, obligations, and real estate and re-acquiring, purchasing, or renting them in any way whatsoever.
(c) Establishing companies or any type of establishment and investment funds inside and outside the Kingdom and determining their form, in order to serve the purposes for which they are established. Any of these entities, whether established inside or outside the Kingdom, may own assets, rights, obligations, and real estate regardless of their location, or own the right to use, mortgage, rent, lease, or acquire other rights in relation to the issuance and structuring of debt instruments and sukuk of all kinds locally and internationally, as long as these entities are wholly owned by the state. The mentioned disposals and rights are exempt from all registration requirements and other regulatory requirements in the Kingdom.
(d) Entering into the necessary contracts and agreements in this regard in Arabic or other languages, and including the provisions required by the nature of those contracts or agreements, as well as the provisions contained in Council of Ministers Decision 313 dated 25 Rajab 1437 [2 May 2016] and Royal Order 36612 dated 27 Rajab 1437 [4 May 2016], and agreeing to arbitration, whether inside or outside the Kingdom, and applying laws other than Saudi laws to settle disputes arising from those contracts or agreements.
(e) Authorising whomever he deems fit to take the necessary measures in order to carry out the provisions of paragraph 2(a), (b), (c) and (d) of this clause.
Sixth
The Minister of Finance is authorized to issue debt instruments, issue sukuk of all kinds, borrow, and finance in all its forms, whether locally or internationally, directly or indirectly, in relation to any of the following:
1․ Strengthening the general reserve account of the state when necessary.
2․ Financing capital projects whose costs are approved in the budget.
3․ Refinancing debts due in the financial year 1447/1448 [2026] or subsequent financial years.
4․ Financing the payment of explicit and implicit government guarantees.
5․ Financing the payment of financial obligations that are not classified as budgetary expenditures, including shares and equity stakes in companies, authorities, institutions, and development funds, in respect of which royal orders, supreme orders, or Council of Ministers decisions are issued.
Seventh
The Minister of Finance is authorized to withdraw from the general reserve account of the state in respect of any of the following:
1․ Financing the payment of explicit and implicit government guarantees.
2․ Financing the payment of financial obligations that are not classified as budgetary expenditures, including shares and equity stakes in companies, authorities, institutions, and development funds, in respect of which royal orders, supreme orders, or Council of Ministers decisions are issued.
3․ Placing a portion of the reserve amounts in deposits with local banks, provided that they are calculated within the total general reserve of the state.
Eighth
It is not permitted to withdraw from the general reserve account of the state except in accordance with the established legal procedures, without prejudice to the provisions of this decree.
Ninth
In order to raise the efficiency of public debt management, the following is prohibited:
1․ Borrowing by government agencies and public entities—whose budgets are attached to the general budget of the state or which receive a subsidy from it—or issuing any type of debt instruments, issuing bonds of all kinds, or issuing any guarantee that entails a potential obligation.
2․ Supporting government agencies and public entities—whose budgets are attached to the general budget of the state or which receive a subsidy from it—for other entities, or issuing any guarantee regarding any of their obligations or the amounts they borrow, whether by obtaining loans, issuing debt instruments and sukuk, or any other means of borrowing.
3․ Supporting an entity whose budget is not attached to the general budget of the state for any entity and in any form of financing whatsoever, including issuing any guarantee to support borrowing or its obligations, unless it obtains the prior written approval of the Minister of Finance before borrowing, or making any contractual arrangements from which those obligations arise.
Tenth
As an exception to the provisions of clause Ninth of this decree, the Minister of Finance is authorized to approve the following:
1․ Borrowing by government agencies and public entities whose budgets are attached to the general budget of the state or that receive a subsidy from the general budget of the state, including the issuance of debt instruments and the issuance of sukuk of all kinds, and financing in all its forms, whether locally or internationally, directly or indirectly.
2․ Government agencies and public entities whose budgets are attached to the general budget of the state issuing explicit and implicit guarantees, whether conditional or unconditional.
3․ Government agencies and public entities whose budgets are attached to the general budget of the state supporting other non-attached entities, and issuing explicit and implicit guarantees—whether conditional or unconditional—to those entities, provided that this is in order to support the borrowing of those entities or cover their financial obligations.
4․ Granting the government agencies and public entities referred to in this clause the powers and exceptions stipulated in paragraph 2 of clause Fifth of this decree, or part of them, in accordance with the limits or restrictions issued by the Minister of Finance in each case, with regard to these entities implementing the provisions of paragraphs 1, 2, and 3 of this clause.
Eleventh
As an exception to the provisions of clause Nine of this decree, the Minister of Finance is authorized to issue explicit and implicit guarantees, sureties, or mortgages—whether conditional or unconditional—for government agencies and public entities whose budgets are attached to the general budget of the state or other non-attached entities, provided that this is in order to support the borrowing of those entities or to cover their financial obligations.
Twelfth
1․ The surplus of the revenues of the general budget of the state must be transferred to the general reserve account of the state.
2․ The Minister of Finance is authorized during the financial year—as an exception to paragraph 1 of this clause—to do the following:
(a) Allocating the revenues in excess of the projections of government agencies and public entities whose budgets are attached to the general budget of the state—whose revenues were determined in the budget of the financial year 1447/1448 [2026]—or part of them collected and deposited in the unified treasury account—formerly the current account of the Ministry of Finance—for those agencies and entities.
(b) Allocating direct (self) revenues and their expenses to government agencies and public entities whose budgets are attached to the general budget of the state, whose laws or statutes stipulate the financing of their expenses from their revenues, and which were not included in the budget of this year under an appropriation against revenue.
(c) Approving and adding the incentives resulting from the achievement of government agencies and public entities whose budgets are attached to the general budget of the state—which are included in the mechanisms for developing the revenues of ministries and other government agencies—an increase in their revenues, until the issuance of the State Revenue Law and its entry into force.
(d) Approving and adding the amounts issued in this regard by Council of Ministers Decision 772 dated 10 Dhu Al-Qa’dah 1444 [30 May 2023] and in accordance with the governance stipulated in that decision.
Thirteenth
Government agencies and public entities whose budgets are attached to the general budget of the state, for which royal orders or decrees or Council of Ministers decisions are issued, or whose laws, statutes, or organizational arrangements stipulate the maintenance of a cash reserve, shall dispose of this cash reserve in agreement with the Ministry of Finance.
Fourteenth
The Minister of Finance is authorized to add the amounts relating to expenses—for which royal orders, supreme orders, or Council of Ministers decisions are issued, and which are disbursed from the Emergency Expenditures Chapter 49 or otherwise—to the budget support allocation and to disburse them accordingly.
Fifteenth
The Minister of Finance may—in coordination with each entity concerned with any of the sectors (electricity, water, sewage, railways, etc.)—do the following:
1․ Compensate companies that manage public utilities to cover the difference in the tariff approved in those sectors through the amounts allocated for this in the budget, provided that the Minister of Finance issues the necessary decisions to identify these companies, and to set the financial arrangements and statutes related to this matter and the obligations of those companies in return for this. The Minister may approve and add the necessary amounts to pay for the increase in the expenses of consumption of public services from government agencies and public entities whose budgets are attached to the general budget of the state.
2․ Allocating the revenues transferred by the competent government agency or public entity whose budget is attached to the general budget of the state resulting from the provision of services for the transport and storage of water as an appropriation against revenue.
Sixteenth
1․ Transfers between chapters, branches, and sections of the general budget of the state must be made by a decision by the Minister of Finance or his delegate, in accordance with a governance approved by the Minister of Finance. The competent minister or the head of the entity with an independent budget may make transfers between some chapters, branches, and sections of the budget, in accordance with the controls provided in the instructions for Implementing the General Budget of the State and the Financial and Accounting Instructions.
2․ The Minister of Finance is authorized to transfer from the actual savings achieved in the appropriations of the items of the general budget of the state to manage the needs due on other items.
Seventeenth
1․ In the event that there are dues arising from ended financial years, government agencies and public entities whose budgets are attached to the general budget of the state shall disburse them no later than the end of the second month of the financial year 1447/1448 [2026], and shall make the necessary transfers in their budgets to disburse these dues. The final account of the government agency or public entity must include details of what has been done.
The General Court of Audit shall follow up on the extent of compliance of government agencies and public entities with the provisions of this paragraph, and shall report on this, in order to take the legally prescribed measures against the violating entities.
2․ The Minister of Finance is authorized to manage and add the necessary appropriations to pay the dues that are not matched by sufficient appropriations in the items of the general budget of the state, taking into account the approved expense ceiling.
3․ The Minister of Finance is authorized to manage the appropriation, supplementation, or transfer of items that require accounting adjustment, and this does not entail disbursement operations or an impact on the approved expense ceiling.
4․ The Minister of Finance is authorized to manage and add the amounts resulting from the following:
(a) Tax differences in contracts and amounts necessary for alternative contracts.
(b) Amounts resulting from judicial rulings issued against government agencies and public entities whose budgets are attached to the general budget of the state.
(c) Amending the prices of contracts or agreements, or extending or transferring projects in accordance with the laws and instructions issued in their regard.
5․ The competent minister or the head of the entity whose budget is attached to the general budget of the state shall upload all its contractual obligations to the Etimad platform, whether they are contracts or approvals, including contracts and approvals excluded from the Law of Government Tenders and Procurement, in accordance with the controls contained in the Instructions for Implementing the General Budget of the State and the Financial and Accounting Instructions. The final account of the government agency or the public entity must include details of what has been done.
The General Court of Audit shall follow up on the extent of compliance of government agencies and public entities with the provisions of this paragraph, and shall report on this, in order to take the legally prescribed measures against the violating entities.
Eighteenth
1․ The administrative (functional) formations of each entity must be approved in accordance with the general budget of the state, and it is not permitted to amend them except in accordance with the legal procedures.
2․ It is not permitted during the financial year to create or remove jobs, ranks, or grades other than those issued by the general budget of the state. This excludes the appointment of ministers, those in the rank of minister, the excellent rank and its equivalent, the jobs that occur in accordance with the conditions contained in the Temporary Jobs Law, and what is necessary to implement the requirements of Council of Ministers Decision 59 dated 18 Muharram 1444 [16 August 2022] and Decision 721 dated 26 Shawwal 1444 [16 May 2023].
3․ It is permitted, by a decision by the Minister of Human Resources and Social Development, to reduce the ranks and levels, or to change the names of jobs in accordance with the requirements of the Rules of Job Classification, based on the recommendation of a committee consisting of representatives from the Ministry of Human Resources and Social Development and the Ministry of Finance. The Minister of Human Resources and Social Development may grant the powers of reduction and modification to the competent minister, in accordance with the controls set for this purpose, in agreement with the Minister of Finance.
4․ It is permitted, by a decision by the Minister of Finance, to transfer the approved jobs between the chapters and branches of the budget, as well as to transfer jobs within the same administrative formation for the eleventh grade and above, based on the recommendation of a committee consisting of representatives from the Ministry of Finance and the Ministry of Human Resources and Social Development. The competent minister or the head of the independent entity whose budget is attached to the general budget of the state may transfer jobs from the tenth grade and below within the administrative formation, provided that this is in accordance with the controls and standards specified by Royal Order 63336 dated 8 Dhu Al-Hijja 1439 [19 August 2018]. The competent minister or the head of the independent entity may transfer jobs from the tenth rank and below outside the approved administrative formations, based on the recommendation of this committee, and in accordance with the controls contained in the Instructions for the Implementation of the General Budget of the State and the relevant Financial and Accounting Instructions.
Nineteenth
The Minister of Finance shall issue the following:
1․ The decisions and instructions necessary for the implementation of the general budget of the state within the limits of the rules stipulated in this decree and the relevant royal orders and decrees, laws, statutes, regulations, decisions, and instructions.
2․ Matters relating to the identification of government agencies and public entities to which the legal provisions contained in this decree or some of them do not apply.
Twenty
The Minister of Finance may delegate to any of the personnel of the Ministry of Finance and the National Debt Management Center some of the powers granted to him in accordance with this decree and the paragraphs referred to in clause Fifth of it.
Twenty-One
The competent control agencies shall continue to follow up on the implementation of the provisions of the royal orders and decrees, laws, statutes, rules, decisions, and instructions related to the implementation of the general budget of the state.
Twenty-Second
The necessary legal provisions must be applied to those who violate the provisions, procedures, and arrangements stipulated in this decree, royal orders and decrees, laws, statutes, rules, and decisions, and the instructions based on them.
Twenty-Third
His Royal Highness the Prime Minister, the ministers, and the heads of government agencies and public entities with independent budgets and whose budgets are attached to the general budget of the state—each within their area of mandate—shall implement this decree of Ours.
Salman bin Abdulaziz Al-Saud
Issued on: 13 Jumada Al-Thani 1447
Corresponding to: 4 December 2025
Published in Umm Al-Qura 5129 issued on 12 December 2025.
