Investing.com -- Saudi Arabia, the world’s leading oil exporter and de-facto OPEC leader, reported a fiscal deficit of 58.701 billion riyals ($15.65 billion) for the first quarter of 2025, according to information released by its finance ministry on Monday. This deficit has been attributed to a significant 18% year-on-year decline in oil revenues, which amounted to 149.810 billion riyals.

In the same quarter, the country’s total revenues were recorded at 263.616 billion riyals. Meanwhile, public expenditure for the nation reached a high of 322.317 billion riyals. The fiscal deficit and the drop in oil revenues underscore the challenges faced by the Saudi economy, heavily reliant on oil exports for its revenue.

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