{"id":93534,"date":"2025-01-20T00:00:00","date_gmt":"2025-01-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/01\/20\/world-bank-revises-down-saudi-growth-projections-to-3-4-in-2025\/"},"modified":"2025-01-20T00:00:00","modified_gmt":"2025-01-20T00:00:00","slug":"world-bank-revises-down-saudi-growth-projections-to-3-4-in-2025","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/01\/20\/world-bank-revises-down-saudi-growth-projections-to-3-4-in-2025\/","title":{"rendered":"World Bank revises down Saudi growth projections to 3.4% in 2025"},"content":{"rendered":"

The World Bank cut<\/strong> its forecast for economic growth in the Kingdom to 3.4% this <\/strong>year<\/strong>, according to the bank\u2019s latest Global Economic Prospects report (pdf)<\/a>. The projection is a downward revision of 2.5 percentage points from the World Bank\u2019s previous report in June<\/a>. However, the bank penciled in growth of 5.4% in 2026, up from its previous forecast of 3.2%. <\/p>\n

The bank\u2019s prediction is slightly more optimistic than that of the International Monetary <\/strong>Fund (IMF)<\/strong>, which slashed<\/a> its growth predictions to 3.2% on the back of extended Opec+ production cuts in its most recent World Economic Outlook Update. Meanwhile, credit rating agency Moody\u2019s expects MENA\u2019s economic growth to reach 2.9% in 2025, up from 2.1% in 2024 with hydrocarbon exporters \u2014 Saudi Arabia, the UAE, Iraq, Kuwait, and Oman \u2014 growing by 3.5%. <\/p>\n

REMEMBER-<\/strong> Opec+ decided in December<\/a> to push back the start date of production increases by three months to April 2025, with the overall production increases slated to be gradually implemented until the end of 2026.<\/p>\n

Driving growth in 2026:<\/strong> The World Bank\u2019s more optimistic predictions for 2026 are down to its expectations of \u201crobust activity in the non-oil sector \u2014 especially in services \u2014 as well as higher oil production and exports,\u201d the report reads.<\/p>\n

Geopolitical tensions still pose a risk:<\/strong> Any escalation in ongoing tensions in neighboring countries could represent a considerable challenge to growth in the Kingdom this year, with the bank saying that \u201cprolonged attacks on shipping in the Red Sea could dampen activity\u201d in the Kingdom as well as other neighboring countries, and that escalations to these conflicts could lead to \u201csignificant deteriorations in consumer and business sentiment, increased uncertainty, and tighter financial conditions,\u201d collectively slowing investment activity. <\/p>\n","protected":false},"excerpt":{"rendered":"

The bank penciled in growth of 5.4% in 2026<\/p>\n","protected":false},"author":1,"featured_media":93535,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2571],"tags":[27,10,335,442],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-93534","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-enterpriseam-ksa","tag-gdp","tag-world-bank","wpautop","entry"],"acf":{"mongo_id":"25106b13-370f-4dc2-8073-cc7e7e3f9db1","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/1785.jpg","photo_position":"above","homepage_title":"","full_issue_title":"World Bank revises down Saudi growth projections to 3.4% in 2025","related_issue":[93529],"teaser":"The bank penciled in growth of 5.4% in 2026","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.96671681-7c90-47fe-92dd-5bafcde859de.mp3"},"yoast_head":"\nWorld Bank revises down Saudi growth projections to 3.4% in 2025 - 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