The International Monetary Fund expected Saudi GDP to grow by 7.6 percent in 2022, while the rate will be 3.6 percent in 2023.
IMF, in its recent forecasts, according to the report on economic developments for the Middle East and North Africa, raised its expectations of real GDP growth for the Kingdom of Saudi Arabia during 2022, by 2.8 percent from its last previous forecast, where it estimated growth to 7.6 percent this year, compared to 4.9 percent it had issued in January (early) this year, while the fund had estimated the Kingdom's economic growth by 3.3 percent for the current year in its report issued in June of last year.
The fund’s estimates are consistent with the expectations of the Saudi government by a large percentage, as the Kingdom expected its economy to grow by 7.4 percent this year and 3.5 percent next year 2023. Thus, the estimates, as a whole, indicate the highest growth in the Saudi economy in a decade, when the Saudi GDP recorded a growth of 10 percent in 2011.
It is expected that the per capita GDP in Saudi Arabia will increase by 5.5 percent this year and by 2.4 percent in 2023.
Source (Al-Arabiya.net Website, Edited)
