The International Monetary Fund (IMF) has revised its expectations for economic growth in Saudi Arabia, indicating a positive outlook for the Kingdom's economy.
This positive outlook confirms the growth and prosperity of the Saudi economy © Mena Today
The International Monetary Fund (IMF) has revised its expectations for economic growth in Saudi Arabia, indicating a positive outlook for the Kingdom's economy.
The IMF now predicts a growth rate of 5.5% in 2025, an increase from its previous estimate of 4.5% issued in October 2023.
These revisions were made based on the data published in the IMF's report “Updates on Global Economic Prospects” in January 2024, which highlighted the optimistic outlook for the Saudi economy's performance and strength despite the risks and challenges present in the global economic landscape.
This positive outlook confirms the growth and prosperity of the Saudi economy, which is being driven by strong leadership both regionally and internationally.
The report also expects the global economy to achieve a growth rate of 3.1% in 2024 and 3.2% in 2025.
Saudi Arabia began oil output cuts, becoming the latest Gulf producer impacted by the U.S. and Israeli war on Iran that has halted ship traffic in the region, sending crude prices up nearly 30% on Monday to $119 a barrel and prompting G7 countries to consider releasing emergency oil stocks.
Iran's clerical leadership chose confrontation over compromise in appointing Mojtaba Khamenei to succeed his father, Ali Khamenei, a move regional officials say is a direct rebuke to U.S. President Donald Trump, who had declared the son "unacceptable".
Two people were killed and 12 injured after a projectile fell on a residential location in Saudi Arabia's Al-Kharj city on Sunday, the Saudi Civil Defense said.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.