Saudi Arabia's Q1 Fiscal Deficit Soars Amid Falling Oil Revenues

In the first quarter of 2025, Saudi Arabia, the top oil exporter globally, reported a whopping fiscal deficit of 58.701 billion riyals, equating to $15.65 billion.

This economic shortfall was primarily fueled by an 18% decline in oil revenues, which fell to 149.810 billion riyals.

While total revenues amounted to 263.616 billion riyals, public spending in the same period ballooned to 322.317 billion riyals, as stated by the finance ministry on Monday.

(With inputs from agencies.)