Saudi Arabia's Military Spending Soars 26% Year-on-Year in the First Quarter

According to a report by Reference News on May 8, the Financial Times reported on May 5 that in the first quarter of this year, Saudi Arabia's military spending increased by 26% year-on-year. Since the United States and Israel went to war with Iran, Saudi Arabia has faced numerous ballistic missile and drone attacks.

The quarterly budget report released by the Saudi Ministry of Finance on the 5th showed that military spending in the first quarter rose to 64.7 billion riyals (approximately 17.2 billion USD). In the first quarter of 2025, Saudi military spending was 51.4 billion riyals.

The report did not provide details on the increase in spending, but Iran has previously targeted Saudi Arabia and its Gulf neighbors for attacks, including military bases, energy infrastructure, and civilian locations. Saudi Arabia has publicly opposed this war and stated that it will not allow its territory or airspace to be used for attacks on Iran.

Saudi Arabia has historically been one of the countries with the highest military spending in the world, and it is expected that Gulf countries will increase defense spending following the war with Iran.

Data from the Saudi Ministry of Finance also showed that in the first quarter of this year, the Saudi fiscal deficit widened to 125.7 billion riyals, the highest level since 2018, due to the actual closure of the Strait of Hormuz, which limited crude oil exports and reduced oil revenue by 3%.

The Stockholm International Peace Research Institute stated last month that Saudi Arabia's military spending reached 83.2 billion USD last year, an increase of 1.4% compared to 2024, making it the eighth largest military spender in the world. (Translated by Qiu Fang)