Saudi budget Q1 2026: Revenues at SAR 261B, Expenditures at SAR 387B

The Saudi Ministry of Finance announced today, May 5, the (actual) general budget for the Kingdom for the first quarter of 2026.

 

According to official data, first-quarter revenues reached SAR 261 billion, while general expenditures totaled SAR 387 billion.

 

The budget deficit for Q1 2026 stood at SAR 126 billion.

 

Saudi Budget’s 2026 Actual Revenue & Expenditure (SAR bln)​

Year

Revenue

Expenditure

Surplus/(Deficit)​

Q1

261

387

(126)

Q2

--

--

--

Q3

--

--

--

Q4

--

--

--

2025 (Estimates)

1147.4

1312.8

(165.4)

 

Q1 Actual Revenue:

 

Total actual revenue for Q1 2026 stood at SAR 261 billion, down about 1% from Q1 2025.

 

Oil revenue reached SAR 144.7 billion, while non-oil revenue amounted to SAR 116.25 billion.

 

Actual Revenues Breakdown (SAR bln)​

Revenues

Q1 2025

Q1 2026

Change

Oil revenues

149.81

144.72

(3%)

Non-oil revenues

113.81

116.25

+2%

Taxes on income, profit & capital gains​

6.70

5.92

(12%)

Taxes on goods & services

71.56

74.93

+5%

Taxes on international trade & transactions

5.56

5.55

(0.2%)

Other taxes

4.58

3.69

(19%)

Other revenues

25.41

26.17

+3%

Total

263.62

260.97

(1%)

 

Q1 Actual Expenditure:

 

Actual expenditures rose 20% YoY to SAR 387 billion.

 

Actual Expenditure (SAR bln)

Expenditure

Q1 2025

Q1 2026

Change

Employee compensation 

146.09

151.06

3%

Use of goods & services

64.63

98.05

52%

Financing expenses

12.39

12.29

(1%)

Subsidies

6.49

17.54

170%

Grants

0.27

0.96

249%

Social benefits

30.47

31.08

2%

Other expenses

34.18

32.28

(6%)

Non-financial assets (CAPEX)

27.79

43.43

56%

Total

322.32

386.69

20%
 

Spending Breakdown:

 

The government allocated SAR 80.85 billion to the health and social development sector in the Q1 2026 budget, SAR 64.71 billion to the military sector, and SAR 57.03 billion to education.

 

Actual Spending in Q1 2026 (SAR bln)

Sector

Actual Spending

General Administration

21.43

Military

64.71

Security and Regional Administration

34.43

Municipal Services

26.22

Education  

57.03

Health and Social Development

80.85

Economic Resources

28.02

Infrastructure and Transportation

12.50

General Items

61.50

Total

386.69
 

Public Debt:

 

Total public debt rose to around SAR 1.66 trillion at the end of Q1 2026, compared with SAR 1.51 trillion at the end of 2025.

 

Public Debt (SAR bln)

Period

Total

2025

1519.01

Q1 2026

1667.18

 

Public Debt by Q1 2026-End (SAR bln)

Period

Domestic

Debt

External

Debt

Beginning of period balance

1519.01

943.35

943.35

Issuances/(borrowing)

108.62

108.62

Principal repayment

(9.20)

0

Amortization of government bonds

0

0

End of period balance

1042.78

624.40

1667.18
 

Q1 2026 Budget Surplus/Deficit Funding Sources (SAR bln)

Item

Total

Surplus/(Deficit)

(125.71)

Funding

Government Reserves

-

Borrowing

125.71

Total

125.71
 

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