IMF raises its estimates for Saudi economy growth to 4% during ‎‎2024‎

International Monetary Fund raised its estimate for the growth of the Saudi economy to 4% during 2024

Preliminary estimates for the year 2024 from the Ministry of Finance indicate that the real gross domestic product will grow by 4.4%, supported by the growth of the domestic product of non-oil activities, with the expectation that the private sector will continue to lead economic growth.

The Fund also expected the global economy to grow by 3% this year and 2.9% next year, global inflation to decline to 6.9% this year and 5.8% in 2024, in addition to the growth of the economy of the Middle East and Central Asia region by 2.5% in 2023. And 3.2% in 2024, while the US economy is expected to grow by 2.1% this year, and is expected to slow to 1.5% next year.