Saudi Arabia's 2017 budget deficit reached 7.7 percent.

The Saudi Arabian government targeted a budget deficit of 7.7 percent of its gross domestic product (GDP) in 2017. This figure is one-third lower than the budget deficit in 2016. Saudi Arabia's budget expenditure this year was set at 890 billion riyals, while revenue was 692 billion riyals. This resulted in a budget deficit of 198 billion riyals.

The 2016 budget deficit was estimated at 11.5 percent of GDP, or approximately 297 billion riyals, lower than the target of 13 percent. Meanwhile, the budget deficit in 2015 reached 362 billion riyals, or 14.95 percent of GDP. Revenue in 2016 was estimated at 528 billion riyals, or 2.7 percent higher than the target.

The fall in oil prices from mid-2014 to the first quarter of 2016 severely impacted the Saudi Arabian economy. Oil prices, which were previously above US$100 per barrel, plummeted to below US$30 per barrel, heavily burdening the national finances of a country that relies on this "black gold" for its economy. The Saudi Arabian government even had to seek loans from the International Monetary Fund (IMF) to cover the budget deficit.