Saudi Arabia's budget deficit falls by more than 70% in the second quarter

Saudi Arabia’s budget deficit fell by more than 70 percent in the second quarter of 2026 compared to the previous quarter, reaching SAR 34.3 billion ($9.14 billion), driven by spending rationalization and higher revenues.

Data released Thursday by the Ministry of Finance showed that total government spending declined by 3.4 percent to SAR 373 billion in the second quarter, compared to the prior quarter.

On the other hand, total revenues rose by more than 30 percent to SAR 338.784 billion, propelled by a 28.5 percent increase in oil revenues to SAR 185.1 billion.

Non-oil revenues increased by more than 30 percent, reaching SAR 153.7 billion.

Compared to the same quarter last year, total government spending rose by 11 percent to SAR 373 billion.

Total revenues grew by 12 percent to SAR 338.784 billion in the second quarter of 2026, compared to the previous year.

Saudi Arabia recorded a deficit of SAR 34 billion in the second quarter of 2025.