World Bank expects Saudi economy to grow by 3.3% in 2024

06/06/2023 ِArgaam
The Kingdom of Saudi Arabia's flag

The Kingdom of Saudi Arabia's flag

Saudi Arabia's economy is set to grow by 3.3% and 2.5% in 2024 and 2025, respectively, said the World Bank in a report issued today.

 

It pointed out that this growth will be driven by government investments and continued strong activity in the services sector.

 

The bank also reiterated its forecast for the growth of the Saudi economy at 2.2% in 2023, which it announced last May, in light of the decline in the oil sector.

 

Global growth witnessed a slump, said the bank, adding that the risks of financial stress in emerging markets and developing economies are intensifying amid rising global interest rates.

 

It stated that global growth is expected to slow from 3.1% in 2022 to 2.1% in 2023.

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.