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World Bank maintains Saudi’s economic growth forecast at 2.5% in 2024
Growth will pick up steam next year following “a gradual resumption of oil activity”
Commentary on Saudi GDP growth leads the conversation
Pundits see GDP contraction as being indicative of “oil sector restraint”
Economy contracts again in 1Q 2024 on lower oil activity
The downturn was once again due to a decline in oil activity, which fell by 10.6% y-o-y in the last…
Here’s what you need to know about day one of the World Economic Forum’s special meeting in Riyadh
Plus: Saudi pledges USD 500 mn to Bill and Melinda Gates Foundation’s drive ton eradicate polio
World Bank sees Saudi growth at 2.5% this year, down from its previous estimate of 4.1%. Oil production caps are to blame.
The multilateral lender expects the local economy to grow 5.9% next year
Headwinds? What headwinds?
S&P Global also sees an increased oil-related real GDP growth as the “common theme” to look at in the GCC…
Rebound in the cards
Analysts are expecting the economy to have closed 2023 in recession
Mega projects, non-oil private-sector growth are hallmarks of 2024 state budget
The gov’t is targeting a deficit of 1.9% of GDP as it supports spending
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