{"id":97420,"date":"2025-05-27T00:00:00","date_gmt":"2025-05-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/05\/27\/riyad-capital-projects-gdp-growth-to-accelerate-in-2025-2026\/"},"modified":"2025-05-27T00:00:00","modified_gmt":"2025-05-27T00:00:00","slug":"riyad-capital-projects-gdp-growth-to-accelerate-in-2025-2026","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/05\/27\/riyad-capital-projects-gdp-growth-to-accelerate-in-2025-2026\/","title":{"rendered":"Riyad Capital projects GDP growth to accelerate in 2025, 2026"},"content":{"rendered":"

<\/strong>Riyad Capital <\/strong>sees the Kingdom\u2019s GDP growth increasing to 3.5% in 2025 and 4.2% in <\/strong>202<\/strong>6<\/strong>, driven by robust growth in the non-oil activity and an anticipated rebound in the oil sector, it said in its latest Saudi Economic Chartbook report for 2Q 2025 (pdf)<\/a>. <\/p>\n

Driving the growth:<\/strong> Non-oil growth is seen expanding at a 4.1% clip in 2025, before accelerating further to 4.3% in 2026, down slightly from 4.8% in 2024. \u201cWe project continued solid growth for non-oil activities, fostered by a growth-oriented fiscal policy, supported by PIF, with a focus on increased investment spending, which will support the non-oil economy in the coming years,\u201d the firm writes. <\/p>\n

Increased oil output will help boost growth across the next two years: <\/strong>Riyad Capital expects oil activities to grow by 3.5% this year and by 5.4% in the next, buoyed by Opec+ accelerating voluntary output cuts, originally planned to take place gradually until 3Q 2026.<\/p>\n

Higher than IMF expectations:<\/strong> the International Monetary Fund (IMF) cut<\/a> its forecasts for GDP growth last month, by 0.3 percentage points to 3% this year and by 0.4 percentage points to 3.7% in 2026.<\/p>\n

More budget deficits: <\/strong>The firm expects the Kingdom to see a fiscal deficit of 4.5% of GDP this year, which will then narrow to 3.6% in 2026, attributing this to the government sticking to \u201cits original spending plan in order to spur growth and foster the economic transformation.\u201d Meanwhile, the current account balance is expected to see a deficit of 3.6% of GDP in 2025, before narrowing to 2.9% of GDP in the following year, which Riyad Capital says will be driven by higher oil exports and improved tourism revenues.<\/p>\n

The inflation situation:<\/strong> The firm sees inflation rising to 2.5% in 2025, before easing slightly to 2.3% in 2026, up from an inflation reading of 1.7% in 2024. <\/p>\n

This is a less optimistic view on inflation than some others<\/strong>, with the IMF having recently cut its inflation forecasts to 2% for both 2025 and 2026, while Capital Economics expects<\/a> inflation to hover around 2-2.5% this year before slowing to 2% in 2026.<\/p>\n

ALSO-<\/strong> Riyad Capital expects the Saudi Central Bank to cut interest rates by 50 bps in 2025 and 2026, following in the footsteps of the US Federal Reserve\u2019s gradual easing measures.<\/p>\n","protected":false},"excerpt":{"rendered":"

The firm sees GDP growth accelerating to 3.5% in 2025 and 4.2% by 2026<\/p>\n","protected":false},"author":1,"featured_media":97421,"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":[27,10,335,21,1365,567],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-97420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-enterpriseam-ksa","tag-gdp","tag-inflation","tag-non-oil-economy","tag-state-budget","wpautop","entry"],"acf":{"mongo_id":"320f8aab-f3a1-43da-ae8e-95ca2764d27d","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1268.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Riyad Capital projects GDP growth to accelerate in 2025, 2026","related_issue":[97413],"teaser":"The firm sees GDP growth accelerating to 3.5% in 2025 and 4.2% by 2026","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.e853dd38-b176-434f-9e37-b3cce813f053.mp3"},"yoast_head":"\nRiyad Capital projects GDP growth to accelerate in 2025, 2026 - 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