The International Monetary Fund (IMF) has lowered its 2025 GDP growth projection for Saudi Arabia to 3.3% due to extended oil production cuts. The IMF also trimmed its 2024 growth estimate for the Gulf state to 1.4%. This led to an overall lowering of the IMF's growth projection for the Middle East and Central Asia region to 3.6% this year. The decline in oil prices and extended cuts to oil production have impacted Saudi Arabia's revenue, but the country is implementing a spending plan to boost non-oil growth and achieve its economic transformation plan.