Saudi Gazette report

RIYADH — The International Monetary Fund (IMF) has updated its growth forecast for Saudi Arabia's economy, presenting a more optimistic outlook.

The IMF now estimates a 5.5% growth rate for the Kingdom in 2025, marking an increase from the previously projected 4.5% in October 2023.

This adjustment is informed by recent data in the IMF's 'Updates on Global Economic Prospects' report from January 2024, which underscores a positive perspective on the Saudi economy's robustness and its capacity to grow amidst global economic challenges and uncertainties.

This upbeat forecast underscores the Kingdom's ongoing economic growth and prosperity, bolstered by its influential leadership on both regional and international stages. Furthermore, the IMF expects the global economy to grow by 3.1% in 2024 and 3.2% in 2025.