IMF Upgrades Saudi Arabia's Growth Projection to 5.5% in 2025

IMF Upgrades Saudi Arabia's Growth Projection to 5.5% in 2025

By Staff Writer, 05 February 2024

A more optimistic economic outlook for Saudi Arabia is revealed by the International Monetary Fund (IMF), that has revised its growth forecast for the Kingdom's economy.

The IMF's latest projection anticipates a substantial 5.5% growth rate for the Kingdom in 2025, representing an increase from the previously estimated 4.5% disclosed in October 2023.

This positive adjustment is based on the latest data featured in the IMF's 'Updates on Global Economic Prospects' report from January 2024.

The report highlights a favorable perspective on the robustness of the Saudi economy and its ability to thrive amidst global economic challenges and uncertainties.

The upgraded forecast serves as a testament to the ongoing economic growth and prosperity in the Kingdom, driven by its influential leadership on both regional and international fronts.

Additionally, the IMF foresees the global economy expanding by 3.1% in 2024 and 3.2% in 2025, further emphasizing the positive trajectory of economic development.

Source: Saudi Gazette

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