IMF Upgrades Saudi Economic Growth Forecast to 5.5%
Saudi Arabia’s economy is poised to expand by 5.5 percent this year, as per the latest projections from the International Monetary Fund (IMF).
The IMF’s revised outlook reflects a notably positive stance toward the Kingdom’s economic trajectory.
In its January 2024 report titled “Updates on Global Economic Prospects,” the IMF adjusted its previous forecast of 4.5 percent growth to the current 5.5 percent estimate for 2025. These adjustments are based on data that underscore the Kingdom’s robust economic performance and resilience amid global economic uncertainties.
The optimistic forecast underscores the resilience and vitality of the Saudi economy, underpinned by effective leadership both domestically and internationally.
Moreover, the IMF’s report anticipates a global economic growth of 3.1 percent in 2024, with a slight uptick to 3.2 percent in 2025.