The Imf Predicts 7.6% Gdp Growth For Saudi Arabia In 2022
The International Monetary Fund (IMF) kept its economic growth projection for Saudi Arabia unchanged on Wednesday.
The IMF predicted that Saudi Arabia’s economy would still expand by 7.6% this year, making it one of the highest growth rates in the world.
According to the IMF, Saudi Arabia’s inflation, which is projected to be 2.8% this year, was under control and the effects of Russia’s invasion of Ukraine had little impact on the country.
According to Mati, the kingdom’s anticipated budget surplus of 5.5% of GDP this year, which would be it’s first since 2013
According to early estimates, Saudi Arabia’s gross domestic product increased by 11.8 percent annually in the second quarter of 2022
The largest oil producer in the world is Saudi Arabia, where oil production makes up 46% of the country’s GDP.
Compared to the reported number of a 9.6% increase and following a final 6.7% growth in Q4, the Saudi Arabian GDP expanded by 9.9% year over year in the first quarter of 2022.