RIYADH: The Saudi non-oil sector is expected to grow by 4.3 percent this year, according to the head of the International Monetary Fund’s mission to the Kingdom.
Growth in the non-oil economy is expected to be driven by a recovery in consumption as the country emerges from a year of lockdowns, Tim Callen, who leads the International Monetary Fund (IMF) mission to ¶¶Òõ¶ÌÊÓƵ, told Al Arabiya. He also anticipates a decrease in the Saudi budget deficit.
However, the oil sector may record negative growth by 0.5 percent as a result of reduced output arising from the OPEC+ group’s efforts to stabilize oil markets.
The Saudi economy is estimated by the IMF to grow by 2.4 percent overall this year.
The Saudi Ministry of Finance is holding a virtual seminar in the presence of officials from the IMF to discuss economic performance.
Saudi non-oil economy expected to grow by 4.3 percent, says IMF official
Short Url
https://arab.news/n8k5f
Updated 13 July 2021
Saudi non-oil economy expected to grow by 4.3 percent, says IMF official
- The Saudi economy is estimated by the IMF to grow by 2.4 percent overall this year
