In its report issued this April, the International Monetary Fund expected the Saudi economy to grow by 3.1% in the years 2023 and 2024, which is an increase from its previous expectations in January of the growth rate for the current year by about 0.5 percentage points.
While the Fund lowered its forecasts for the growth of the global economy, in its report, from its previous forecasts issued last January, as growth expectations in 2023 fell to 2.8% and 3% next year, down by 0.1 percentage points over the two years.
The Fund said, in its report: “The global economy is once again going through a very uncertain moment, with the cumulative effects of the past three years of adverse shocks – most notably the Corona pandemic and the Russian-Ukrainian war – appearing in unexpected ways.”
He noted that, driven by pent-up demand, persistent supply disruptions, and a sudden surge in commodity prices, inflation reached its highest levels in decades in the past year in many economies, prompting central banks to tighten aggressively to get them back toward their targets and maintain inflation expectations. stationary.
Okaz (New York) @okaz_online