Saudi budget spending rises 20 percent to 387 billion riyals in Q1

Saudi Arabia’s first-quarter 2026 budget results showed revenues of around 261 billion riyals ($69.6 billion) on Tuesday, down 1 percent compared with the same period in 2025, while spending rose to 387 billion riyals ($103.2 billion), up 20 percent, driven by accelerated implementation of national strategies and development projects aimed at economic diversification.According to official data, the budget deficit reached about 126 billion riyals ($33.6 billion), amid a notable increase in government spending alongside relatively stable revenues.For all the latest headlines follow our Google News channel online or via the app.Oil revenues declined 3 percent to around 145 billion riyals ($38.7 billion), while non-oil revenues rose 2 percent to 116 billion riyals ($30.9 billion), highlighting continued improvement in non-oil sources of income.Sector-wise, spending on social benefits increased slightly to more than 31 billion riyals ($8.3 billion) (+2 percent), while health and social

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