IMF Projects Saudi Arabia to Achieve Second Highest Global Growth Rate in 2025

KSA, 19 April, 2024 :  The International Monetary Fund (IMF) has upgraded Saudi Arabia’s economic growth forecast for 2025 to six percent, marking a 0.5 percent increase from its January 2024 prediction.

This upward revision is the second time this year that the IMF has increased its growth forecast for the Kingdom, positioning Saudi Arabia with the second highest expected growth rate in 2025. The Indian economy leads with a projected growth rate of 6.5 percent.

According to the IMF's 'World Economic Outlook' report, the global economy is expected to grow at a steady 3.2 percent in both 2024 and 2025. The report indicates a steady but varied recovery across regions.

Previously, the IMF had forecasted Saudi Arabia’s 2025 growth rate to be between 4.5 percent and 5.5 percent. The latest adjustment reflects the Kingdom's strong economic performance and diversification efforts, with non-oil revenues reaching unprecedented levels.

The IMF’s optimistic outlook underscores the resilience of the Saudi economy amid global challenges and highlights its impressive growth trajectory and diversification achievements.

Source : www.saudigazette.com.sa