Saudi Arabia racked up its eighth consecutive quarterly deficit in Q3 according to the latest government figures, although the $8.1bn figure was down from $9.5bn in the same period last year. Oil revenues remained robust at $50.9bn as steady dividend distributions from Aramco (MEES, 8 November) helped offset the impact of lower oil prices on royalties and income taxes from the firm, while non-oil revenues of $31.6bn were up 6% year-on-year.
The deficit over the first nine months of the year stands at $15.5bn. The Ministry of Finance revised up its expected annual deficit to $31.5bn during September’s pre-budget statement for 2025 (MEES, 4 October), pointing to the likelihood of a spending splurge in Q4. (CONTINUED - 112 WORDS)