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IMF Raises Growth Forecast for Saudi Economy to 6% in 2025

The International Monetary Fund (IMF) HQ2 Atrium on day 2 of the 2024 Spring Meetings of the IMF and the World Bank Group (WBG) in Washington, DC, USA, 16 April 2024. EPA/SHAWN THEW
The International Monetary Fund (IMF) HQ2 Atrium on day 2 of the 2024 Spring Meetings of the IMF and the World Bank Group (WBG) in Washington, DC, USA, 16 April 2024. EPA/SHAWN THEW
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IMF Raises Growth Forecast for Saudi Economy to 6% in 2025

The International Monetary Fund (IMF) HQ2 Atrium on day 2 of the 2024 Spring Meetings of the IMF and the World Bank Group (WBG) in Washington, DC, USA, 16 April 2024. EPA/SHAWN THEW
The International Monetary Fund (IMF) HQ2 Atrium on day 2 of the 2024 Spring Meetings of the IMF and the World Bank Group (WBG) in Washington, DC, USA, 16 April 2024. EPA/SHAWN THEW

The International Monetary Fund has raised its expectations for Saudi Arabia’s economic growth in 2025 to 6 percent – up from 5.5 percent predicted in January.

The IMF also said the Kingdom’s output will grow by 2.6 percent in 2024, down 0.1 percent compared to the previous projection.

Earlier in April, the World Bank also raised the growth prospects of the Kingdom’s economy to 5.9 percent in 2025, up from an earlier projection of 4.2 percent.

The World Bank said Saudi Arabia’s non-oil private sector is expected to grow by 4.8% during the current year due to expansionary public finance policies.

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Madinah Investment Forum to Kick Off on Sunday

Madinah Investment Forum to Kick Off on Sunday
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Madinah Investment Forum to Kick Off on Sunday

Madinah Investment Forum to Kick Off on Sunday

The Madinah Investment Forum, organized by Al-Madinah Al-Munawwarah Chamber under the theme "Invest in Madinah", will start on Sunday and run for two days.
The forum consists of a diverse range of programs, events, and four specialized dialogue sessions focusing on key aspects of the national investment strategy. It will host 18 speakers and more than 40 entities, and present 200 investment opportunities, valued at over SAR57 billion, in more than ten targeted sectors, SPA reported.
The event will highlight Madinah's significant achievements and showcase development and investment projects in the region. It will explore promising investment sectors, comparative and competitive advantages, and the region's potential to support investment growth. Key areas of focus include hospitality, logistics, agriculture, and real estate.
The forum's objectives include identifying investment opportunities in Madinah, fostering investment partnerships, attracting new investments, and introducing financing solutions and business sector services for major development projects.
The event is aimed at a broad audience, including local and international investors, government agencies, development organizations, private sector representatives, investment agencies, financial institutions, consulting firms, and professional service providers.