Saudi budget posts $24.8 billion deficit in H1 2025
RIYADH — Saudi Arabia recorded a budget deficit of SR93.236 billion ($24.8 billion) in the first half of 2025, according to figures released by the Ministry of Finance on Thursday.
The Kingdom's total revenues for H1 stood at SR565.210 billion ($150.7 billion), while expenditures reached SR658.446 billion ($175.5 billion).
In the second quarter alone, revenues amounted to SR301.595 billion ($80.4 billion) against expenditures of SR336.129 billion ($89.6 billion), resulting in a quarterly deficit of SR34.534 billion ($9.2 billion).
Oil revenues in Q2 dropped 29% year-on-year to SR151.7 billion, reflecting pressure from lower global oil prices and possible production cuts.
In contrast, non-oil revenues rose 7% year-on-year to SR149.9 billion, underscoring the government's continued push to diversify the economy.Saudi Arabia's public debt reached SR1.39 trillion by the end of Q2 2025, according to the ministry's statement.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Saudi Gazette
10 hours ago
- Saudi Gazette
Saudi central bank submits new banking draft law to legislative authorities
Saudi Gazette report RIYADH — Saudi Arabia's central bank has submitted a new banking draft law to legislative authorities, marking a significant step in strengthening the Kingdom's financial regulatory framework, according to the International Monetary Fund's (IMF) Article IV Mission report for 2025. The IMF noted that the new Banking Law has been submitted for legislative approval, a risk-based supervisory framework is being refined, and a monitoring system has been introduced for large construction and infrastructure projects. Additionally, the Saudi Central Bank (SAMA) is operationalizing its bank resolution function and has made good progress in establishing a crisis management framework that includes an emergency liquidity assistance framework, which the IMF said should be completed without undue delay. Improvements in enhancing the effectiveness of anti-money laundering and counter-terrorism financing (AML/CFT) supervision — including through thematic inspections — were also welcomed. The Article IV assessment affirmed the resilience of the Saudi economy, citing steady non-oil GDP growth driven by private investment and consumption, low inflation anchored at 2.2 percent, and unemployment levels below Vision 2030 banking sector was highlighted for its strong capitalization, with a solvency ratio of 19.6 percent at the end of 2024, record-low non-performing loans since 2016, and solid profitability is also reviewing its prudential toolkit to address risks from rapid credit expansion and has introduced a 100-basis-point countercyclical capital buffer to safeguard financial stability.
Saudi Gazette
11 hours ago
- Saudi Gazette
Saudi Arabia, IMO partner on global projects for underwater noise reduction, seafarer training
Saudi Gazette report RIYADH — The Transport General Authority has signed a cooperation agreement with the International Maritime Organization (IMO) to launch two global initiatives aimed at reducing underwater noise and training the next generation of maritime professionals. The agreement covers the GloNoise project, which seeks to limit radiated underwater noise to protect marine ecosystems, and the NextWave Seafarers project, designed to address the shortage of qualified maritime personnel worldwide. The Kingdom was represented at the signing by its permanent representative to the IMO, Eng. Kamal Al-Junaidi, while the IMO was represented by Dr. Jose Matheickal, director of the Technical Cooperation Implementation Division. Under the NextWave Seafarers project, 20 trainees from developing countries — including both men and women — will receive specialized training to prepare them for careers in the maritime sector. The program also emphasizes gender equality and equal opportunities in this vital deal underscores Saudi Arabia's commitment to environmental sustainability, human capital development, and its active role in the global maritime aligns with the Kingdom's National Transport and Logistics Strategy, which seeks to strengthen Saudi Arabia's position as a leading hub in the shipping and logistics industry.
Saudi Gazette
15 hours ago
- Saudi Gazette
Ministry launches Non-Profit Precious Metals and Gemstones Association to boost industry
Saudi Gazette report RIYADH — The Ministry of Industry and Mineral Resources has officially announced the establishment of the Non-Profit Precious Metals and Gemstones Association, aimed at advancing the industry, fostering innovation, and empowering local designers and artisans across the Kingdom. The initiative forms part of the Ministry's broader strategy to strengthen the role of non-profit organizations within the industrial and mining sectors, reflecting its belief in their contribution to economic and social development. Aligned with Saudi Vision 2030, the association's objectives include enhancing local content in precious metals and gemstone products, supporting the creative industries, empowering women and youth, and elevating professional standards among designers through specialized training programs, workshops, and certifications. The new body will provide Saudi artisans and designers with financial and technical assistance, production grants, and opportunities to showcase their work at local and international exhibitions. It also aims to promote sustainability, encourage environmentally responsible practices in the gemstone sector, and build a unified professional community through a digital platform connecting investors and industry integrating designers and craftsmen into key value chains, the association seeks to expand Saudi Arabia's footprint in the global market while contributing to the national GDP.
