Saudi Arabia's total budget revenues reach $159.9 billion in the first half
- Non-oil revenues grew by 32 percent to reach SAR 154 billion ($41.1 billion) during the second quarter
- Quarterly expenditure declined by 3.6 percent to SAR 373 billion ($99.5 billion)
Saudi Arabia’s budget report for the second quarter of 2026 showed total revenues reaching $90.3 billion (SAR 338.7 billion), against expenditures of $99.5 billion (SAR 373 billion), recording a budget deficit of $9.1 billion (SAR 34.3 billion).
The report, issued on Thursday, revealed that total revenues in the first half of the year reached $159.9 billion (SAR 599.6 billion), against expenditures of $202.6 billion (SAR 759.8 billion), registering a deficit of $42.7 billion (SAR 160 billion) during the period.
Saudi oil revenues grew by 28 percent in the second quarter compared to the first quarter, reaching $49.3 billion (SAR 185 billion), and rose by 22 percent on an annual basis. They also recorded a 9 percent growth in the first half of the year compared to the same period last year.
Non-oil revenues, meanwhile, increased by 32 percent in the second quarter compared to the first quarter, reaching $41.1 billion (SAR 154 billion), and recorded a 3 percent annual growth in the second quarter, while rising by 2 percent on an annual basis in the first half of the year.
Regarding expenditures, spending declined by 3.6 percent in the second quarter compared to the first quarter, reaching $99.5 billion (SAR 373 billion).
On another note, preliminary estimates from the General Authority for Statistics in Saudi Arabia, released on Thursday, showed that real GDP declined by 4.8 percent in the second quarter of 2026 on an annual basis, due to a 24.7 percent drop in oil activities. Meanwhile, government activities and non-oil activities achieved annual growth of 0.9 percent and 0.6 percent, respectively.
Oil activities recorded a negative contribution to real GDP of 5.4 percentage points, while non-oil activities contributed positively by 0.4 percentage points. Government activities and net taxes on products each recorded a positive contribution of 0.1 percentage points. Seasonally adjusted real GDP declined by 4.9 percent in the second quarter compared to the first quarter of 2026, primarily due to a 21.5 percent drop in oil activities. Non-oil activities also declined by 0.5 percent, while government activities grew by 0.2 percent.
Earlier estimates from the Authority showed that real GDP grew by 3 percent in the first quarter compared to the same quarter in 2025. The Authority attributed this growth to increases across all major economic activities, with both oil and non-oil activities rising by 2.9 percent each, and government activities growing by 1.5 percent.
A Reuters poll conducted this month revealed expectations for Saudi Arabia’s economic growth of 1.4 percent this year, down from previous estimates of 2.6 percent. Estimates also indicate that the Kingdom’s economy will grow by 6 percent next year.
The International Monetary Fund (IMF) had previously lowered its growth forecast for the Saudi economy in 2026 by 1.4 percentage points to 1.7 percent, compared to its prior expectations, while raising its growth forecast for 2027 by 1.0 percentage point to 5.5 percent.
