IMF Boosts Saudi Arabia's 2025 Economic Growth Forecast to 6%
The International Monetary Fund (IMF) has increased its growth forecast for Saudi Arabia's economy for the year 2025 from 5.5% to 6%, making it the second-highest expected growth rate in the world behind India's 6.5%.
The IMF has raised Saudi Arabia's growth rate forecast for 2025 for the second time this year.
The global economy is expected to continue growing at a steady but slow pace of 3.2% in 2024 and 2025.
The IMF predicted that Saudi Arabia's economy would grow from 4.5% to 5.5% in 2025, according to their January 2024 report.
This optimistic outlook is due to the Saudi economy's strong performance and resilience, despite global economic challenges.
The report highlights the progress of Saudi Arabia's diversification efforts and the significant increase in non-oil revenues.