Mohammed Elkuwaiz, Chairman of the Capital Market Authority (CMA), said the capital market reforms helped advance the Kingdom’s rank with respect to the ease of access to capital markets to 20th in 2020.

 

The International Monetary Fund’s (IMF) Concludion of 2021 Article IV Consultation lauded the pace of capital market reforms in Saudi Arabia. These reforms helped the Kingdom advance from the 33rd place in 2019 to the 20th place in 2020.

 

The IMF said Saudi Arabia’s economy is recovering well from the COVID-19 pandemic, expecting the non-oil economy to grow by 4.3% this year.

 

It also forecast overall gross domestic product (GDP) to grow by 2.4%.

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