IMF expects Saudi GDP growth of 1.5% in 2024

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The International Monetary Fund (IMF) cut its growth forecast for Saudi Arabia's economy to 1.5% for the current year, compared to its previous forecast of 1.7% in July 2023.

 

The Saudi economy is projected to grow by 4.6% in 2025, compared to the IMF’s previous forecast of 4.7% in July, marking a 0.1% decrease.
 
In its World Economic Outlook report released today, Oct. 22, the IMF added that global growth is expected to remain stable, though below desired levels. The report highlighted that forecasts were raised for the US but lowered for other advanced economies, particularly major European countries.
 
The IMF also reduced its forecast for the Middle East and Central Asia regions, predicting growth of 2.4% for the current year and 3.9% in 2025.

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