World Bank raises Saudi Arabia’s 2022 growth forecast to 4.9%

15/01/2022 Argaam
The Kingdom of Saudi Arabia's flag

The Kingdom of Saudi Arabia's flag

The World Bank maintained Saudi Arabia’s 2021 growth forecast at 2.4% and raised it for 2022 to 4.9% compared to the previous expectation of 3.3%.

 

In a statement, the bank said the Kingdom would record 2.3% economic growth in 2023, compared to the previous forecast of 3.2%.

 

It added that the oil sector will likely witness strong recovery, which will reflect positively on exports.

 

The non-oil business is also expected to benefit from the large number of vaccinated persons against coronavirus, as well as accelerated investments, the bank said.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.