Saudi Arabia posted a budget deficit of 125.7 billion riyals, or $33.5 billion, in the first quarter of 2026 as government spending rose and oil income fell, according to the finance ministry. The shortfall was more than double the deficit in the same period last year and larger than the gap recorded in the final quarter of 2025.
Spending increased by about 20 percent year on year to 386.7 billion riyals, while oil revenues dropped by nearly 3 percent to 144.7 billion riyals, the report said. The wider deficit reflects continued pressure on Saudi finances at a time when the kingdom is spending heavily on economic diversification projects.
