In a significant financial development for Saudi Arabia, non-oil revenue increased by 7 percent in the second quarter of 2025, reaching SR149.861 billion ($ 39.9 billion). Q2 This growth from SR140.602 billion ($ 39.5 billion) in 2024 shows the speed in the state’s economic diversification strategy under Vision 2030. For the first time, non-oil revenue contributed 49.7 percent to the total quarter income, almost half, underlined the increasing strength of alternative revenue sources.
Revenue & Snow Snapshot: Q2 2025
According to the Finance Ministry, the total revenue for Q2 2025 is the amount of SR301.595 billion ($ 80.4 billion), while the expenditure was the total SR336.129 billion ($ 89.6 billion). This resulted in a budget deficit of SR34.534 billion ($ 9.2 billion) for the quarter. While the revenue of oil fell 29 percent year-on-year, SR151.7 billion ($ 40.4 billion) fell, the difference was partially offset by strong performance in major non-oil categories:
- Income and Benefits Tax: SR13.729 billion ($ 3.7 billion)
- Taxes on goods and services: sr74.950 billion ($ 19.9 billion)
- Business Tax: SR6.323 billion ($ 1.7 billion)
- Other taxes and diverse income: registered moderate development
Government spending fell 9 percent compared to Q2 2024, declining SR368.932 billion ($ 98.4 billion) to SR336.129 billion ($ 89.6 billion), reflection of tight fiscal controls.
First Western 2025: Cast Economic References
In the first half of 2025, the total revenue reached the SR565.210 billion ($ 150.7 billion), against the expenditure of SR658.446 billion ($ 175.5 billion), causing a cumulative deficit of SR93.236 billion ($ 24.8 billion). Of this, the SR263.667 billion ($ 70.3 billion) in non-oil revenue was total, while the revenue of oil was SR301.543 billion ($ 80.4 billion). The expenditure during this period was 2 percent lower than the H1 2024, when it reached the SR674.753 billion ($ 179.8 billion), indicating frequent efforts to rationalize the expenditure. At the same time, on the fiscal side:Public debt climbed SR1.39 trillion ($ 370.7 billion), broken:
- Public debt climbed SR1.39 trillion ($ 370.7 billion), broken:
- SR871.3 billion in domestic loan ($ 232.2 billion) and
- SR515.136 billion ($ 137.4 billion) in foreign debt.
- The state reserve increased to SR396.954 billion ($ 105.7 billion), and
- The current account was at SR102.587 billion ($ 27.3 billion).
Non-oil Area Benefits: Conflict progress under Vision 2030
Under Vision 2030, Saudi Arabia’s fiscal and economic change is producing average results, aims to reduce oil dependence and create long -term flexibility. Major reforms include:
- Revenue raising and energy value adjustment
- Expenditure control and
Treasure single account (TSA) for centralized finance - Promoted fiscal risk assessment, budget transparency, and debt management structure
These measures are part of the national change program and fiscal balance program, focusing on the development of the non-oil field, which is more stable and associated with the job than the instability of the oil field.A central driver of this innings is a change of Public Investment Fund (PIF). Once a domestic holding unit, PIF now serves as a global sovereign money fund, which directs capital into areas alliances with future economic trends. Its portfolio in its portfolio, prominent electric vehicle manufacturing companies like AI Research and Development, Global Startups, Big Tech, Autonomous/ Self Driving Technology such as Lucid Motors, Facebook, Starbucks, Disney, Boeing, Citigroup, Live Nation, Mariat, Cruise Lines, Reliance Retail Vengers, and Orucks with Orakes -Along with the stake, many others are in partnership. This global investment strategy meets domestic goals: increasing non-oil GDP shares, diversifying exports, and expanding private sector roles, creating employment for future economy proofing and generating employment for Saudi Arabia’s growing youth population.
