Saudi Arabia .. New expectations for the performance of the economy

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Saudi Arabia .. New expectations for the performance of the economy

Reuters

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The World Bank raised its forecast for the growth of the Saudi economy by about 0.4 percent to 2.4 percent during the current year, and by about 1.1 percent during the next year 2022 to reach 3.3 percent.

In the current June report issued yesterday, the bank also expected the Saudi economy to grow by 3.2 percent during 2023.

This comes after the bank expected in its January report that the Saudi economy would grow by 2 percent in 2021 and 2.2 percent in 2022.

The World Bank attributed its expectations for the growth of the Saudi economy in the coming years to positive developments in the face of the outbreak of the Corona virus, and the rise in oil prices.

In addition to a huge investment program led by the Public Investment Fund equivalent to 5 percent of GDP annually for the next five years.

Source: economic





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