The World Economic Outlook report, issued by the International Monetary Fund, showed that Saudi Arabia topped the G20 countries in terms of growth rate during 2022, after the Fund updated its previous forecasts issued in July.
The International Monetary Fund fixed its forecast for the growth of the Saudi economy during 2022 at 7.6 percent, which is the second time in a row, after the expectations of last July and April, in contrast to its expectations in January, which showed an expected growth of Saudi real GDP at 4.8 percent. The International Monetary Fund also kept its forecast for the growth of the Saudi economy for 2023, at 3.7 percent, which is higher than the expectations for the month of April of 3.6 percent. This compares with an achieved growth rate of the Kingdom's real GDP at 3.2 percent during 2021.
In its view of inflation, the International Monetary Fund expected that consumer price inflation in Saudi Arabia would reach 2.7 percent during 2022, compared to 3.1 percent in 2021, and expected a slowdown in the inflation rate in 2023 to reach 2.2 percent.
Source (Al-Arabiya.net website, edited)
