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Asharq Al-Awsat

Business

Riyadh - Asharq Al-Awsat

IMF: Gov. Strategy Helped the Saudi Economy

International Monetary Fund Economy Oil Jihad Azour GDP Saudi Arabia Economic Growth Kingdom Middle East

Saudi Arabia continues to support the strategy of reducing dependence on oil through the growth of private sector business (Asharq Al-Awsat)

The International Monetary Fund (IMF) confirmed that government-led reforms and private investment growth in new sectors would help support non-oil economic growth in Saudi Arabia to be less dependent on oil.

The Saudi economy grew 8.7 percent last year, while the real GDP during the fourth quarter of 2022 increased 5.5 percent compared to Q4/2021, according to the General Authority for Statistics (GASTAT).

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