Saudi Arabia's budget deficit at $33.5 billion in Q1 2026, ministry says

DUBAI: Saudi Arabia posted on Tuesday a budget deficit of 125.7 billion riyals ($33.5 billion) in the first quarter of 2026 as government spending surged 20% while revenues declined slightly from the same period last year.

Total government spending reached 386.7 billion riyals in the quarter, outpacing revenues of 261.0 billion riyals, according to the finance ministry.

Oil revenues declined 3% to 144.7 billion riyals from 149.8 billion riyals in Q1 2025.

Saudi Arabia deficit widens to $25.28 billion in Q4 2025, finance ministry says

Non-oil revenues rose 2% to 116.3 billion riyals from 113.8 billion riyals a year earlier.

Military spending increased 26% to 64.7 billion riyals compared with 51.4 billion riyals in Q1 2025.