Saudi Arabia posted on ​Tuesday a ⁠budget deficit of ‌125.7 billion riyals ($33.5 billion) in ​the first quarter of 2026 as government ​spending surged ​20% while revenues declined slightly from the same ⁠period last year.

Total government spending reached 386.7 billion riyals in the quarter, outpacing ​revenues ‌of 261.0 ⁠billion ⁠riyals, according to the finance ministry.

Oil ​revenues declined ‌3% to ⁠144.7 billion riyals from 149.8 billion riyals in Q1 2025.

Non-oil revenues rose 2% to 116.3 billion riyals from 113.8 billion riyals a year earlier.

Military spending increased 26% to ⁠64.7 billion riyals compared ​with 51.4 billion riyals in Q1 2025.

($1 = 3.7524 ​riyals)

(Reporting ‌by Nayera Abdallah ⁠and Yomna ​Ehab; Editing by Kevin Liffey)