Saudi Arabia's state television reported, citing data from the Ministry of Finance. The data showed that the total state revenues amounted to 301 billion riyals (80.1 billion dollars), distributed between oil revenues of 151 billion riyals (40.2 billion dollars) and non-oil revenues of 149 billion riyals (39.7 billion dollars).
On the other hand, government spending amounted to 149 billion riyals (39.7 billion dollars). <On the other hand, government spending during the same period amounted to about 336 billion riyals (89.4 billion dollars), resulting in the second consecutive quarterly deficit this year. The report also indicated that the Kingdom's public debt reached 1.38 trillion riyals ($367.6 billion) at the end of the second quarter, as the government continues to implement spending plans to boost economic growth and diversify sources of income.
GDP rises
Despite the fiscal deficit, GASTAT data showed that real GDP increased by 3.9% during the second quarter of 2025, driven by strong growth in non-oil activities, which recorded an increase of 4.7%.
Data from the General Authority for Statistics (GASTAT) showed that real GDP increased by 3.9% during the second quarter of 2025, driven by strong growth in non-oil activities. <Oil activities increased by 3.8%, while government activities achieved a slight growth of 0.6%. Non-oil activities contributed 2.7 percentage points to GDP growth, versus 0.9 points from oil activities, and 0.1 and 0.2 points from government activities and net product taxes, respectively. On a seasonally adjusted basis, the contribution of oil activities was larger, supporting adjusted GDP growth by 1.3 percentage points, versus 0.9 points from non-oil activities, while government activities and net taxes declined by 0.1 points each.
On a seasonally adjusted basis, the contribution of oil activities was larger, supporting adjusted GDP growth by 1.3 percentage points, versus 0.9 points from non-oil activities, while government activities and net taxes declined by 0.1 points each.
Positive outlook from the IMF
In a related context, the International Monetary Fund IMF raised its growth forecast for the Saudi economy this year and next, citing a recovery in oil revenues and the expansion of non-oil activities, especially in light of increased government investment and private sector activity.
The IMF said in a report that it expects Saudi Arabia's economy to grow over the next two years, citing a recovery in oil revenues and the expansion of non-oil activities. In its July World Economic Outlook report, the IMF expected the Saudi economy to grow by 3.6% in 2025, exceeding the previous estimate of 3.5% issued by the IMF mission in June.
The IMF's July World Economic Outlook (WEO) report forecasts that the Saudi economy will grow by 3.6% in 2025. The IMF had fixed its growth forecast at 3% in its April report, after a series of downgrades over the previous two years, signaling a relative improvement in the outlook for the Saudi economy.
