“Beltone” Financial expected the Saudi economy to grow by 8.3 percent in 2022, supported by the strong growth in the oil economy. In its report, Beltone suggested that the Saudi oil economy would grow by 15.3 percent, indicating that the recent support package, the return of pilgrims, and the increase in the employment of citizens are factors that support the growth of domestic spending.
“Beltone” expected that the inflation rate in the Kingdom would remain at 2.5 percent this year, which is lower than international rates. It is also expected that the Kingdom will record a budget surplus of 7.6% of GDP this year, in addition, the current account in the Kingdom recorded a surplus of 17.5% of GDP in 2022.
On the other hand, a Reuters poll showed that the Kingdom's economy grew at the fastest pace in more than a decade at 7.6 percent in 2022. “Moody's”, the credit rating agency, had expected the Kingdom's economy to grow at an average rate of about 3.9 percent during the years 2022 to 2026.
Source (Al-Arabiya.net Website, Edited)
