The non-oil economies of the UAE, Saudi Arabia and Kuwait continued to improve in September despite the ongoing US-Iran war, while the conflict weighed on Qatari businesses, according to PMI reports.
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Saudi Aramco's financial results and Saudi Arabia's third-quarter budget performance report, released on the same day, revealed a divergence between the company's rising profits and declining government oil revenue recorded in the state budget.
The UAE’s non-oil private sector continued expanding in October, with new orders picking up and businesses raising selling prices at a record pace to pass on higher operating costs.
Saudi Arabia’s budget deficit grew in the third quarter of 2026, surpassing the government’s full-year target, Finance Ministry data shows. Pressure on public finances from the US-Iran war and a seasonal rise in spending are likely to widen the gap further by…
Saudi Arabia recorded a budget deficit of SR84.3 billion ($22.38 billion) in the third quarter of 2026, as government expenditure exceeded revenue, according to the Ministry of Finance’s quarterly budget performance report released on Tuesday.
