The International Monetary Fund expected the Saudi economy to grow by 7.6 percent this year, and 3.7 percent by 2023. The fund's expectations for the growth of the Saudi economy in 2023 were higher than its previous forecast last April at 3.6 percent, while it kept its expectations for 2022 unchanged.
The Fund raised its forecast for the growth of the economy of the Middle East and Central Asia to 4.8 percent during 2022, compared to a growth rate of 4.6 percent in its previous forecast, while reducing its expectations for the year 2023 to 3.5 percent, compared to 3.7 percent in its previous forecast.
The Fund expected the Kingdom’s gross domestic product to grow by 7.6 percent in the current year 2022, non-oil growth to rise to 4.2 percent, and an increase in the current account surplus to 17.4 percent of GDP, as well as containing overall inflation at 2.8 percent on average. The International Monetary Fund noted the strength of the Kingdom's economy and the strength of its financial position, indicating that the Kingdom's economic prospects are positive in the short and medium term, with the continued recovery of economic growth rates, containing inflation, in addition to the increasing strength of its external economic position.
Source (Al-Arabiya.net Website, Edited)
