World Bank says Saudi economy "very strong", public finance improves significantly

03/12/2021 Argaam


Saudi Arabia flag

Saudi Arabia's economy is very strong, Al Eqtisadiah newspaper reported, citing Issam Abu Sulaiman, the World Bank's Regional Director for the GCC.

 

He added that this is due to the Kingdom's ability to control COVID-19 pandemic locally and higher oil prices amid the global economic recovery.

 

Abu Sulaiman confirmed that the Saudi public finance improved significantly, exceeding the World Bank's expectations at the beginning of 2021.

 

This gave the state a financial impetus to complete its ongoing reforms faster, the bank noted.

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