On Monday, the Ministry of Finance of Saudi Arabia reported that the fiscal deficit was set at 58.70 billion riyals (15.65 billion dollars) in the first quarter of 2025, noting a significant drop from the previous period.
The final figures turned out to be worse than the preliminary forecasts, where a reduction of 59 billion riyals was expected. This is linked to an increase in spending compared to revenue from the sale of resources in the kingdom.
"We continue to implement budgetary discipline measures, while not violating the social commitments to our people and not refusing investments in the future," the ministry stated.
The high level of state debt and the instability of global oil prices pose certain risks. Additionally, Saudi Arabia has been facing serious economic challenges related to the pandemic and the pressure on energy prices in the global market.
