Saudi Gazette report

DAVOS — Faisal Al Ibrahim, Minister of Economy and Planning, said at the World Economic Forum 2024 that Saudi Arabia's non-oil economy has grown by 20% since 2016, surpassing the growth rates of the European Union and the United States, which stood at 10% and 14%, respectively.

During a panel session titled 'MENA’s Economic Dilemma: Reforms Amid Uncertainty' held on Thursday, Al Ibrahim highlighted the significant strides made by the Kingdom in bolstering its non-oil economy. This growth trajectory positions Saudi Arabia as a leading example of economic resilience and diversification in the Middle East.

Al Ibrahim attributed this success to Saudi Vision 2030, describing it as an "evolution and transformation" pivotal in reshaping both the country's economy and society. He emphasized the vision's role in guiding the Kingdom toward its desired future state.

The minister also spoke about the continued robust momentum behind Saudi Arabia's non-oil economic growth, underscoring the importance of boldness and collaboration in the Kingdom's transformative journey. He stressed that these elements are crucial for Saudi Arabia to "continue delivering day in, day out.