Saudi Arabia: Concluding Statement of the 2025 Article IV Mission

June 26, 2025-- Saudi Arabia's economy has demonstrated strong resilience to shocks, with non-oil economic activities expanding, inflation contained, and unemployment reaching record-low levels. While lower oil proceeds and investment-linked imports led to the emergence of twin deficits, external and fiscal buffers remain ample.
A higher-than-budgeted fiscal stance in 2025 remains appropriate to prevent procyclicality that could exacerbate the growth impact of lower oil prices.

Addressing strong credit growth and associated funding pressures will be crucial in mitigating risks to systemic financial stability. Given the current heightened global uncertainty, continued efforts on structural reform are essential to sustain non-oil growth and drive economic diversification.

RECENT ECONOMIC DEVELOPMENTS[1]

Saudi Arabia's economy has been resilient to shocks. In 2024, non-oil real GDP grew by 4.2 percent, primarily driven by private consumption and non-oil private investment, with retail, hospitality, and construction leading growth.

Lunate launches new AI Data, Power & Infrastructure ETF

November 6, 2025-This marks Lunate's 20th ETF launch, providing investors with a comprehensive suite for portfolio construction
The AI Data Power ETF enables investors to capitalize on the infrastructure driving the AI economy

ASB Capital marks first year with $5.8bln AUM as it eyes ETF launch

November 3, 2025-The firm currently manages $5.8bln in assets, reflecting the trust of a growing global client base, according to the announcement
ASB Capital, the asset management and investment banking arm of Al Salam Bank, is celebrating its one-year anniversary, reporting steady growth, new product launches, and regional expansion since its inception at the Gateway Gulf forum in November 2024.

Indxx Licenses US 2000 Profitability Index to Migdal Mutual Funds Ltd.

October 28, 2025--Indxx, a leading global provider of innovative indexing solutions for exchange-traded funds (ETFs), is pleased to announce the licensing of the Indxx US 2000 Profitability Index to Migdal Mutual Funds Ltd. The Index serves as the underlying benchmark for the MTF TR (4A) Indxx US 2000 Profitability Currency-Hedged (Ticker: 5140207), which began trading in Israel today.

PIF anchors newly listed Albilad MSCI Saudi Equity Exchange Traded Fund

October 26, 2025-The listing marks PIF's anchor investment into the first local broad market exchange traded fund (ETF), underscoring PIF's continued focus on asset management