Riyadh, April 18, 2024, The International Monetary Fund (IMF) has bolstered its already positive assessment of the Saudi Arabian economy, raising its growth forecast for 2025 for the second time this year. According to the IMF's April "World Economic Outlook" report, the projected growth rate for Saudi Arabia has been revised upwards to 6%, up from the 5.5% forecast issued in January 2024.
This upward revision is particularly significant as it comes amidst the IMF maintaining a stable global growth forecast of 3.2%. With this adjustment, Saudi Arabia is now anticipated to be the second-fastest growing economy in 2025, trailing only behind India's expected growth rate of 6.5%.
The IMF's report underscores the ongoing strength and resilience of the Saudi economy, highlighting its positive performance despite global challenges. One notable aspect is the Kingdom's success in diversifying its revenue sources, leading to unprecedented levels of non-oil revenue. These developments have positioned Saudi Arabia as a regional and international economic leader.
The IMF's optimistic revision in the growth forecast reflects a continued confidence in the Kingdom's economic trajectory, signaling positive prospects for sustainable growth and development in the coming years.
