Local News
Saudi Arabia's flexibility in its 2026 budget in the face of global market fluctuations
Saudi Arabia's 2026 strategy: Economic balance to counter global market volatility, enhancing financial stability amidst the challenges of inflation and oil prices.
Saudi Arabia's 2026 Budget: A Balanced Economic Strategy
The Saudi Arabian budget for fiscal year 2026 revealed a balanced economic strategy aimed at enhancing the Kingdom's ability to withstand global economic fluctuations. This strategy is based on a thorough analysis of international inflation rates, oil market forecasts, and price trends, thus providing a clear framework for the Kingdom's future fiscal policy.
Global inflation: forecasts and challenges
According to the International Monetary Fund's projections, global inflation is expected to gradually decline over the coming years. Inflation rates are projected to fall from 5.6% in 2024 to 4.2% in 2025, and then to 3.3% in 2026.
In advanced economies, inflation rates will fall from 2.6 in 2024 to 2.5 in 2025, and then to 2.2 in 2026. As for emerging and developing economies, inflation rates are expected to fall from 7.7 in 2024 to 5.4 in 2025, and then to 4.9 in 2026.
These figures point to a global trend toward stability amid geopolitical and trade challenges that are hindering a rapid decline in inflation.
Oil markets and global demand growth
Data showed significant growth in demand for crude oil, which positively impacted Saudi Arabia's supply levels. This growth was supported by OPEC's decision to extend voluntary production cuts and implement a flexible, phased plan for their eventual termination.
The voluntary reduction of 2.2 million barrels per day in November 2023 and will gradually end until September 2025. The Kingdom's supplies will increase from 9.4 million barrels per day in June 2025 to 10 million barrels per day by September of the same year.
Compared to the March level of 9 million barrels per day , the net increase is equivalent to 1 million barrels per day, reflecting Saudi Arabia’s commitment to market balance between price stability and meeting global demand.
Oil prices and market volatility
Brent crude oil averaged $70.8 per barrel between January and June of this year. This price reflects market volatility due to geopolitical factors and climate change affecting production and supply.
Local and global impact and future prospects
<u.com/market/energy/oil-prices.html” target=”blank”>Global oil prices have a direct impact on the Saudi economy, as it is one of the world's largest oil producers, with oil revenues constituting a significant portion of the state's general budget. Domestically, higher oil prices bolster the Kingdom's financial capacity to implement sustainable development projects and achieve Saudi Vision 2030. Globally, stable oil prices contribute significantly to economic balance and enhance investor confidence. Looking ahead, Saudi Arabia is expected to continue focusing on diversifying its economy away from total dependence on oil by investing in non-oil sectors such as tourism, technology, and renewable energy. This diversification will help the Kingdom not only withstand global economic fluctuations but also secure a sustainable economic future for generations to come. In conclusion, Saudi Arabia's budget demonstrates its high level of economic resilience and its ability to address global and domestic challenges efficiently and effectively.
Local News
The Director of Health in Socotra praises Saudi support for the health sector in the archipelago
The Director of Health in Socotra confirmed that Saudi support through the Saudi Program for the Development and Reconstruction of Yemen saved the medical sector, providing medicines, operational budgets and strategic projects.
The Director General of the Health and Population Office in the Socotra Archipelago Governorate, Dr. Issa Al-Shanqabi, praised the pivotal and strategic role played by the Kingdom of Saudi Arabia in rescuing and developing the health sector in the governorate. Al-Shanqabi emphasized that this generous support, provided under the direct guidance of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, and his Crown Prince, Deputy Prime Minister, Prince Mohammed bin Salman, has been a cornerstone for the continued provision of medical services to the people of the archipelago during these exceptional circumstances.
Rapid response and high-level coordination
In exclusive statements to Okaz newspaper, Dr. Al-Shanqabi explained that the ongoing coordination between the local authorities and the Saudi Program for the Development and Reconstruction of Yemen, with close follow-up from the Ambassador of the Custodian of the Two Holy Mosques to Yemen, Mohammed Al Jaber, has yielded tangible results on the ground. This support has included providing a comprehensive operational budget, securing medicines and medical supplies for the Socotra Hospital to be provided to patients completely free of charge, and supporting vital logistical services, most notably the electricity system, thus ensuring the continuity of medical services with high efficiency and without interruption.
Expanding the service map to remote areas
Saudi support wasn't limited to the main center; the Director of Health in Socotra revealed a strategic expansion of interventions to include districts and remote areas. He noted the tangible response from the Saudi program in supporting and operating the Qalansiyah and Nuqad hospitals, which significantly alleviated pressure on hospitals in the capital, Hadibu, and spared citizens in those far-flung regions the hardship of travel. Al-Shanqabi also announced the commencement of technical studies for the restoration and operation of the 22 May Hospital, with support from the Saudi program, so that it can once again serve as a central health facility for all residents of the archipelago.
Strategic projects and an anticipated qualitative leap
Speaking about future sustainable projects, Al-Shanqabi emphasized that Socotra eagerly awaits the completion of the King Salman Medical Complex, currently under construction next to the King Salman Mosque. He described the project as an unprecedented leap forward in the history of healthcare services on the island, as it will be equipped to be a comprehensive medical facility similar to the medical city in Al-Mahra Governorate, thus enhancing the archipelago's health security and reducing the need for patients to travel abroad for treatment.
Sustainable human footprints
Dr. Al-Shanqabi concluded his remarks by emphasizing that the humanitarian contributions of the Kingdom of Saudi Arabia are well-known to the people of Socotra. He commended the pioneering role of the Saudi field hospital and the equipping of health centers in Amdhan, Nuqad, and other vital facilities. He expressed his deep gratitude to the Kingdom's leadership for this noble humanitarian support, which directly addresses the needs of the Yemeni people, and looked forward to further cooperation to ensure the sustainability and development of health services to meet the aspirations of the province's residents.
Local News
Public security warns residents near the US embassy: precautionary measures
Jordanian Public Security issues warnings to residents around the US Embassy in Amman to be cautious when hearing sirens and to stay away from windows to ensure public safety.
In light of the rapidly evolving security situation in the region, the Jordanian Public Security Directorate issued an important and urgent statement addressed to citizens and residents living in the vicinity of the US Embassy in the Abdoun area of Amman. The Directorate urged them to exercise extreme caution and strictly adhere to public safety instructions in the event of sirens sounding, in order to protect lives and property.
Safety protocols and how to handle sirens
The official Jordanian news agency, Petra, quoted security sources emphasizing the need to follow specific steps upon hearing air raid sirens, particularly the single, uninterrupted tone that indicates a potential threat. These preventative measures include:
- Staying indoors: Leaving the house is strictly prohibited until the danger has passed and the sirens have stopped.
- Stay away from glass: You should immediately move away from windows, glass doors, and mirrors, and close curtains if present, to avoid injury from flying shrapnel as a result of any atmospheric pressure or possible crash.
- Taking shelter in safe areas: It is advisable to head to interior corridors, central areas of the house, or interior staircases that offer greater protection than exterior walls.
- Instructions for drivers: For those in their vehicles, stop immediately in a safe place away from trees and light poles, and take shelter in the nearest concrete building, and do not remain inside the vehicle as it does not provide sufficient protection.
Security context: US Embassy warnings
These precautionary measures come in response to thorough security assessments and coincide with a warning issued by the U.S. Embassy in Jordan to its citizens and staff. The embassy reported credible indications of potential aerial activity involving missiles or drones in Jordanian airspace in the coming days. The diplomatic mission described the current security environment as "complex and rapidly evolving," necessitating a state of constant vigilance.
Regional and geopolitical dimensions of the event
These warnings cannot be separated from the volatile regional landscape in the Middle East. Jordan, by virtue of its strategic geographic location at the crossroads of conflict and tension, is directly affected by the ongoing military escalation in the region. International reports and observations indicate that the regional airspace is witnessing unprecedented and intense military activity, making the possibility of aircraft crossing or being intercepted in the airspace a real concern.
These measures reflect the Jordanian state and its security agencies’ commitment to dealing with any potential threat with transparency and high responsibility, as the greatest danger in such cases often results from falling shrapnel or debris from aerial interception operations, rather than direct targeting of residential areas, which necessitates adherence to staying in covered and safe places.
A message of reassurance and community awareness
The Public Security Directorate concluded its directives by emphasizing that these measures fall under the category of standard "precautionary measures" in such circumstances, and are intended to ensure public safety and are not meant to cause panic. It stressed the importance of obtaining information only from official sources and refraining from spreading rumors, affirming that public awareness and adherence to instructions are the first line of defense in ensuring that any emergency passes safely and securely.
Local News
9,000 Iranian pilgrims leave Saudi Arabia via Iraq – Details
The Iranian ambassador in Riyadh announces the departure of 9,000 Iranian pilgrims from Saudi Arabia towards Iraq via the Arar border crossing, in coordination with the Ministry of Hajj and Umrah.
The Iranian ambassador to Saudi Arabia, Ali Reza Enayati, announced the commencement of the organized departure of Iranian pilgrims currently in the holy sites, starting this evening. The ambassador explained that the process will be carried out in organized phases, comprising 10 consecutive groups, reflecting the high level of coordination between the Iranian diplomatic mission and the relevant authorities in the Kingdom.
Departure plan and land route details
According to official statements, the departure plan relies on overland bus transportation. Approximately 9,000 pilgrims will depart from the cities of Mecca and Medina. The convoy will head north to reach the Arar border crossing, from where they will cross into Iraq and continue their journey back to Iran. These meticulous logistical arrangements are in place to ensure the smooth flow of traffic and the safety and comfort of the pilgrims during their long return journey.
Diplomatic coordination and the return of normal relations
This event comes within a broader context reflecting the development of Saudi-Iranian relations and their return to normalcy, which facilitated the resumption of Umrah pilgrimages for Iranian visitors after a period of suspension. The success of the current Umrah season for Iranians and the streamlined departure procedures are tangible evidence of the fruits of recent diplomatic agreements and joint cooperation between the two countries in serving the pilgrims. The Saudi Ministry of Hajj and Umrah played a pivotal role in overcoming obstacles and providing the necessary facilities for the success of this season.
Praise for Saudi efforts
In a related context, Ambassador Enayati confirmed that he had been in close contact with the Iranian Consul General in Jeddah to monitor the progress of the operations. He received assurances that the arrangements for the return of pilgrims and visitors were proceeding smoothly and without any significant obstacles. The Ambassador expressed his country's deep gratitude for the efforts exerted by the Kingdom of Saudi Arabia, stating, "We Iranians express our thanks and appreciation to the relevant officials in this regard for facilitating the departure of our citizens from the Kingdom after they performed Umrah rituals with ease and convenience." This statement reflects the official Iranian satisfaction with the level of services provided to the pilgrims and the excellent organization of the return process.
These moves indicate the stability of the procedures followed at the land border crossings, especially the Arar crossing, which is considered a vital artery linking the Kingdom with its neighbors in the north, thus enhancing the movement of transport and transit between the countries of the region.
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