KSA, 17 April, 2024 : The World Bank has increased its growth forecast for Saudi Arabia's economy to 5.9% for 2025, up by 1.7% from its previous January forecast of 4.2%. However, the bank revised down its 2024 growth projection to 2.5%, a decrease of 1.6% from the earlier forecast of 4.1%.
According to the latest World Bank report on global economic prospects, Saudi Arabia's non-oil private sector is projected to grow by 4.8% in 2024, driven by expansionary public finance policies. The report also anticipates a 0.5% growth in per capita GDP for Saudi Arabia in 2024, a notable improvement from the 2.8% contraction in the previous year.
The World Bank praised Saudi Arabia's efforts in containing inflation through rigorous monetary policies and substantial support for food and energy sectors.
Source :www.saudigazette.com.sa
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