IMF expects Saudi GDP to grow by 2.4% in 2021

08/07/2021 Argaam

The International Monetary Fund (IMF) said today July 8, that Saudi Arabia’s economy is recovering well from the COVID-19 pandemic, expecting the non-oil economy to grow by 4.3% this year.
 

It also forecast overall gross domestic product (GDP) to grow by 2.4%.
 

The fund expected the annual average inflation in Saudi Arabia to reach 3.2% in 2021.

 

While central government fiscal consolidation will be a drag on growth, it is expected to be offset by higher Public Investment Fund investment and strong private demand, the IMF noted.

 

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