Saudi Arabia posts $22.38bn budget deficit in Q3

Saudi Arabia has reported a significant budget deficit of SR84.3 billion ($22.38 billion) for the third quarter of 2026. This financial shortfall is attributed to government expenditures surpassing revenues, as detailed in the Ministry of Finance's quarterly report. Notably, oil revenue has seen a decline of 23 percent year-on-year, contributing to the overall budgetary challenges faced by the kingdom.

The report highlights that total government revenue for the quarter was SR259.1 billion, while expenditures reached SR343.4 billion. The decrease in oil revenue, which amounted to SR116.5 billion, underscores the economic pressures on the nation, particularly given the reliance on oil for fiscal stability.

This budget deficit may have broader implications for Saudi Arabia's economic policies and future spending plans, especially in light of ongoing efforts to diversify its economy away from oil dependency. Stakeholders will be closely monitoring how the government addresses these financial challenges moving forward.