The International Monetary Fund (IMF) projects that Saudi Arabia's economy will grow by 3.3 percent in 2025 and 4.1 percent in 2026. These projections reflect the impact of the ongoing OPEC+ agreement on oil production cuts. The IMF also highlighted challenges such as inflationary pressures and global uncertainties that could affect the region's economic prospects. However, Saudi Arabia's diversification initiatives under Vision 2030, including efforts to expand non-oil sectors like tourism and renewable energy, are expected to support long-term growth. Globally, the IMF forecasts economic growth to stabilize at 3.3 percent in both 2025 and 2026, with advanced economies facing persistent challenges and emerging markets and developing economies experiencing stronger growth.
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Original article source: https://www.arabnews.com/node/2587000/business-economy
Source Id: 2025-01-607009075