The International Monetary Fund (IMF) expects Saudi Arabia's non-oil growth momentum to remain strong at an average of 5 percent in 2023, yet will remain above its potential level thanks to strong consumer spending and accelerating project implementation and their role in boosting demand.
At the conclusion of the Article IV consultations for 2023, the IMF mission to Saudi Arabia indicated that the inflation rate in the Kingdom would remain at 2.8 percent in 2023 thanks to the strength of the currency, subsidies, and gasoline price ceilings.
He noted that the Saudi Central Bank's intervention twice eased liquidity pressures last year and returned the differences between SIBOR and LIBOR to their historical averages.
Source (Al-Arabiya.net Website, Edited)
