To add details and background

CAIRO, Feb 23 (Reuters) - Saudi Arabia's finance ministry said on Monday it had recorded a budget deficit of 94.85 billion riyals ($25.28 billion) in the fourth quarter of 2025, up from 88.5 billion riyals in the previous quarter, as spending rose.

The Kingdom's total spending reached SAR 371 billion in the fourth quarter, up from SAR 358.4 billion in the third quarter. Total revenues also increased to SAR 276 billion in the fourth quarter, up from SAR 269 billion in the previous quarter.

Increased oil production in Saudi Arabia, the world's largest crude exporter, helped raise its revenues to 154.185 billion riyals in the fourth quarter, from 150.816 billion riyals in the third quarter, but total oil revenues fell 20 percent in 2025 compared to the previous year.

Meanwhile, non-oil revenues jumped to SAR 122.6 billion in the fourth quarter, from SAR 119 billion in the third quarter, but growth remained almost flat over the whole year as of 2024.

The Kingdom has maintained an expansionary fiscal policy to support economic diversification within the framework of Vision 2030, despite the pressures of fluctuating oil prices on the budget.

Saudi Arabia’s budget deficit in 2025 reached approximately 276 billion riyals, exceeding the expected deficit of 245 billion riyals, which saw a significant adjustment by raising it from the initial estimates.

The total debt at the end of 2025 reached approximately 1.52 trillion riyals, up from 1.22 trillion riyals at the end of 2024, as the Kingdom resorted to borrowing to cover the deficit.

(1 US dollar = 3.7515 riyals)