CAIRO: Saudi Arabia’s budget deficit widened to 94.85 billion riyals ($25.28 billion) riyals in the fourth quarter of 2025, from 88.5 billion riyals in the previous quarter, the kingdom’s finance ministry said on Monday as expenditures climbed.
The kingdom’s total spending reached 371 billion riyals in Q4, up from 358.4 billion riyals in Q3.
Total revenues increased to 276 billion riyals in Q4, compared to 269 billion in the previous quarter.
A ramp up in oil production in the world’s top oil exporter helped lift revenue from oil to 154.185 billion riyals in Q4 from 150.816 billion riyals in Q3, but total oil revenue was down 20% in 2025 from the previous year.
Non-oil revenue meanwhile jumped to 122.6 billion riyals in Q4, from 119 billion riyals in the third quarter, but growth was almost flat over the full year from 2024.
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Saudi Arabia has maintained an expansionary fiscal policy to support economic diversification under Vision 2030, even as oil price volatility pressures the budget.
The Gulf kingdom’s 2025 budget deficit was at 276 billion riyals, more than the expected deficit of 245 billion, which had been significantly revised upwards from initial estimates.
Total debt at the end of 2025 stood at 1.52 trillion riyals, up from 1.22 trillion at the end of 2024, as the kingdom borrows to plug the deficit.
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