Many indicators show that the Saudi economy is heading towards prosperity in 2025, based on data that made the International Monetary Fund (IMF) and the World Bank raise their expectations for the growth of the Kingdom’s economy to 6 percent and 5.9 percent, respectively, from their previous prospects of 5.5 percent and 4.2 percent in January.
Dr. Abdullah Al-Jassar, a member of the Saudi Economic Association, told Asharq Al-Awsat that these expectations are based on key factors, including the improved performance of the non-oil sector, which is likely to maintain its growth momentum, driven by increased consumption and investment.
He also pointed to the continued rise of oil prices, noting that signs of improvement during the current year will contribute to supporting revenues that facilitate investment in infrastructure projects and economic development.
Al-Jassar went on to say that infrastructure improvements and trade agreements help in strengthening the Kingdom’s role as a regional commercial hub and stimulating economic activity.
He highlighted the importance of promising sectors, including arts, entertainment, and tourism, in diversifying the economy and creating new job opportunities.
He stressed that the Saudi economy was moving steadily towards achieving its development goals, thanks to good economic policies, huge investments, and economic diversification programs.
Meanwhile, Chief Economist at Riyad Bank Dr. Nayef Al-Ghaith explained to Asharq Al-Awsat that the expectations of the IMF and the World Bank showed a growth momentum in 2025, thanks to an increase in the oil and non-oil economies during the coming period.
The non-oil economy has witnessed an expansion supported by the economic reforms established by Vision 2030, he said, adding: “Currently, we are seeing the results of these initiatives, as companies have witnessed a rise in orders and in the number of new customers, which has contributed to the overall increase in business operations.”
