Economic updates
Our in-depth, independent reports cover the macroeconomic environment, the Saudi government’s annual budget, and Saudi Arabia’s monetary and financial developments, labor market, and inflation.
Q1 2025 Budget Statement: (The deficit widens due to lower oil prices)
Budget reportThe central government recorded a fiscal deficit of SR58.7 billion in Q1-25, as revenue declined by 10 percent year-on-year due to lower oil revenue, while spending was 5 percent higher.
Oil Market Update - May 2025: Oil prices under pressure
Oil market reportOil prices averaged $75pb in Q1-25, down from an average of $80pb in 2024. Prices declined sharply in April, with Brent briefly below $60pb, due to the sharp rise in US tariff rates and the OPEC+ decision to increase production by more than planned.
Saudi Labor Market Update - 2024
Labor Market reportThe General Authority for Statistics’ (GaStat) latest labor market release shows that Saudi unemployment dropped to 7 percent at the end of 2024, reaching Vision 2030’s target six years ahead of schedule.
