Saudi Arabia: public finances

What is Saudi Arabia's budget deficit?

Saudi Arabia's 2026 budget projects a deficit of SAR 165 billion, or 3.3% of GDP, according to the Ministry of Finance budget statement as reported in the National Debt Management Center's 2026 Annual Borrowing Plan. The deficit for 2025 is estimated at SAR 245 billion, or 5.3% of GDP, against a budgeted SAR 101 billion (2.3%).

The plan projects smaller deficits of SAR 120 billion in 2027 and SAR 125 billion in 2028. The 2026 deficit and SAR 52 billion of maturing debt give gross financing needs of SAR 217 billion. Total government debt was SAR 1,685 billion at the end of June 2026, the NDMC's debt statistics show.

Official sources: National Debt Management Center: 2026 Annual Borrowing Plan · National Debt Management Center: reports and statistics

How much revenue does the Saudi government collect?

Saudi Arabia's 2026 budget projects total government revenue of SAR 1,147 billion, according to the budget figures in the National Debt Management Center's 2026 Annual Borrowing Plan. Revenue for 2025 is estimated at SAR 1,091 billion, below the SAR 1,184 billion in the 2025 budget and the SAR 1,259 billion collected in 2024. Revenue is projected to reach SAR 1,294 billion by 2028.

The 2025 shortfall against the budget was SAR 93 billion. Revenue depends heavily on the oil sector, whose real output fell 24.8% in the second quarter of 2026, GASTAT reports.

Official sources: National Debt Management Center: 2026 Annual Borrowing Plan · GASTAT: GDP and national accounts, Q2 2026

How much does the Saudi government spend?

Saudi Arabia's 2026 budget sets government spending at SAR 1,313 billion, according to the budget figures in the National Debt Management Center's 2026 Annual Borrowing Plan. Spending in 2025 is estimated at SAR 1,336 billion, above the SAR 1,285 billion budgeted, and was SAR 1,375 billion in 2024. Spending is projected to reach SAR 1,419 billion by 2028.

The plan describes the government's fiscal policy as countercyclical, with targeted spending to support growth. Government final consumption grew 5.0% in real terms in the second quarter of 2026, according to GASTAT.

Official sources: National Debt Management Center: 2026 Annual Borrowing Plan · GASTAT: GDP and national accounts, Q2 2026

How much is the Saudi government borrowing?

The Saudi government borrowed SAR 188.7 billion in the first half of 2026 and repaid SAR 22.8 billion, taking total debt to SAR 1,685 billion at the end of June, according to the National Debt Management Center (NDMC). That was equal to 33.9% of the GDP projected in the 2026 budget. In 2025 the government borrowed SAR 400.9 billion and repaid SAR 98.6 billion.

Domestic debt made up 62% of the portfolio and international debt 38% at the end of 2025, the NDMC's 2026 Annual Borrowing Plan says. The plan sets gross financing needs for 2026 at SAR 217 billion.

Official sources: National Debt Management Center: reports and statistics · National Debt Management Center: 2026 Annual Borrowing Plan

What does Saudi Arabia pay to borrow?

The average cost of funding of Saudi Arabia's government debt was about 3.79% at the end of 2025, according to the National Debt Management Center's 2026 Annual Borrowing Plan. The average time to maturity was 9.0 years, against 9.2 years a year earlier, and maturities run up to 36 years. 87% of the debt carried fixed interest rates.

The cost of funding is the average interest rate on the outstanding debt. The plan says financing costs rose in recent years with higher global interest rates. Saudi Arabia is rated Aa3 by Moody's and A+ by Fitch and S&P, the NDMC reports.

Official sources: National Debt Management Center: 2026 Annual Borrowing Plan · National Debt Management Center

What is Saudi Arabia's government debt?

31.8% of GDP: that is general government gross debt in Saudi Arabia for 2025, according to the IMF. The peak was 37.3% of GDP in 2005 and the low 1.5% of GDP in 2014. It is 17th highest of 20 in Middle East, North Africa, Afghanistan & Pakistan, where the median is 52.5% of GDP. Of 185 countries with 2025 data, 149th highest.

Does Saudi Arabia's government borrow more than it raises?

According to the IMF, general government net lending or borrowing in Saudi Arabia was -5.8% of GDP in 2025 (a deficit). Since 2005 it has ranged from -14.9% of GDP (2015) to 29.8% of GDP (2008). Middle East, North Africa, Afghanistan & Pakistan median: -5.2% of GDP; Saudi Arabia is 15th highest of 21. Of 188 countries with 2025 data, 157th highest.

What is Saudi Arabia's government revenue?

According to the IMF, general government revenue in Saudi Arabia was 23.3% of GDP in 2025. The peak was 56.5% of GDP in 2008 and the low 20.1% of GDP in 2016. Across Middle East, North Africa, Afghanistan & Pakistan the middle value was 26.3% of GDP, and Saudi Arabia placed 13th highest of 21. Worldwide: 114th of 187.

How big is Saudi Arabia's government spending as a share of GDP?

29.1% of GDP: that is general government spending in Saudi Arabia for 2025, according to the IMF. Its high point since 2005 was 2014, at 38.6% of GDP; its low point was 2022, at 25.3% of GDP. Across Middle East, North Africa, Afghanistan & Pakistan the middle value was 28.7% of GDP, and Saudi Arabia placed 10th highest of 21. Worldwide: 100th of 186.

What is Saudi Arabia's tax to GDP ratio?

According to the IMF, central government tax revenue in Saudi Arabia was 8.1% of GDP in 2024. The peak was 8.6% of GDP in 2021 and the low 2.3% of GDP in 2011. Middle East, North Africa, Afghanistan & Pakistan median: 16.9% of GDP; Saudi Arabia is 5th highest of 6. World rank, highest first: 86th of 92.

What is Saudi Arabia's military budget as a share of GDP?

SIPRI puts military spending in Saudi Arabia at 6.5% of GDP in 2025. Since 2005 it has ranged from 5.7% of GDP (2022) to 12.6% of GDP (2015). Across Middle East, North Africa, Afghanistan & Pakistan the middle value was 3.1% of GDP, and Saudi Arabia placed 3rd highest of 15. World rank, highest first: 5th of 149.