diff --git a/dbt_common/clients/jinja.py b/dbt_common/clients/jinja.py
index cb136a3..8cc1205 100644
--- a/dbt_common/clients/jinja.py
+++ b/dbt_common/clients/jinja.py
@@ -46,6 +46,7 @@
     MaterializationArgError,
     JinjaRenderingError,
     UndefinedCompilationError,
+    DbtRuntimeError,
 )
 from dbt_common.exceptions.macros import MacroReturn, UndefinedMacroError, CaughtMacroError
 
@@ -534,7 +535,11 @@ def catch_jinja(node: Optional[_NodeProtocol] = None) -> Iterator[None]:
     except CompilationError as exc:
         exc.add_node(node)
         raise
+    except DbtRuntimeError:
+        # Propagate dbt exception raised during jinja compilation
+        raise
     except Exception as e:
+        # Raise any non-dbt exceptions as CompilationError
         raise CompilationError(str(e), node) from e