Arabian Business – Saudi Arabia’s booming economy: How the kingdom is outperforming the global growth outlook

L’économie en plein essor de l’Arabie saoudite : comment le royaume dépasse les perspectives de croissance mondiale

The first quarter of 2022 saw Saudi Arabia’s economy grow at its fastest rate since 2011. Here’s how the kingdom’s authorities are supercharging growth/Le premier trimestre de 2022 a vu l’économie saoudienne croître à son rythme le plus rapide depuis 2011. Voici comment les autorités du royaume accélèrent la croissance

The International Monetary Fund (IMF) has projected Saudi Arabia’s economy to grow at 7.6 percent this year – the highest growth rate among world economies for 2022.

“IMF’s estimates for the Kingdom of Saudi Arabia contradict the bleak and ambiguous outlook that stems from several main factors including the Russian-Ukrainian crisis, the restrictions of monetary policies in Europe, and the general closure measures as a result of the new outbreaks of Covid-19,” IMF said in its World Economic Outlook 2022, reported SPA.

The IMF said the high economic growth rate in Saudi Arabia will come amid challenges facing advanced economies and the global economy, and in light of the decrease in activity in Russia and China and a decline in US spending levels. READ MORE