IMF-Saudi Arabia's Economy Grows as it Diversifies
September 28, 2023--Sustaining growth in private non-oil investment requires maintaining the reform momentum and sound macroeconomic policies
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As shown in the latest IMF annual review of the country's economy, progress has been most notably reflected in non-oil growth, which has accelerated since 2021, averaging 4.8 percent in 2022. Despite lower overall growth reflecting additional oil production cuts, non-oil growth will remain close to 5 percent in 2023, spurred by strong domestic demand. |