RIYADH — Saudi Arabia recorded a SR34.3 billion ($9.1 billion) budget deficit in the second quarter of 2026 as government revenues rose strongly while expenditure declined from the previous quarter, according to the Ministry of Finance's quarterly budget performance report released Thursday.Total revenue reached SR338.7 billion ($90.3 billion) during the quarter, while expenditure stood at SR373 billion ($99.5 billion).For the first half of 2026, total revenue amounted to SR599.6 billion ($159.9 billion) against expenditure of SR759.8 billion ($202.6 billion), resulting in a cumulative deficit of SR160 billion ($42.7 billion).Oil revenue increased 28% quarter-on-quarter to SR185 billion ($49.3 billion) in the second quarter and rose 22% compared with the same period a year earlier. For the first half of 2026, oil revenue was up 9% year-on-year.Non-oil revenue also posted strong growth, rising 32% from the first quarter to SR154 billion ($41.1 billion). It increased 3% year-on-year in the second quarter and 2% during the first half of the year compared with the corresponding period of 2025.Government expenditure declined 3.6% in the second quarter from the previous quarter to SR373 billion ($99.5 billion), according to the report.
