“The Economist Intelligence” research unit expected that the Saudi economy will record the fastest growth among the major economies in 2022, surpassing China, India, Germany, America, and the rest of the Group of Twenty countries.
The report predicted that the Saudi economy will grow by 7.5% this year, which is the fastest growth rate in the Kingdom since 2011.
The report indicated that the Kingdom's economic fundamentals are moving in the right direction, with a budget surplus recorded, and public debt shrinking this year, in addition to containing inflation rates.
According to the report, the Saudi economy will be supported by reforms and is likely to register a growth of 5 percent next year. The report showed that the weight of the restaurants, entertainment, and hotels sectors in the inflation index was about 11 percent, while the relative weight of the energy sector was 25 percent, and while the services sector rose by more than 4 percent, its low weight did not have a strong impact on inflation.
Source (Al-Arabiya.net Website, Edited)
