Saudi economy seen to grow 0.03% in 2023

The Ministry of Finance expected to maintain positive economic growth rates this year and in the medium term, backed by structural reforms and sector strategies in line with Vision 2030.

In its Pre-Budget Statement 2024, the ministry expected real gross domestic product (GDP) to grow by 0,03%, driven by the non-oil GDP that is forecast to grow by 5.9%.

Inflation is expected to rise by nearly 2.6%. Inflation rates are expected to remain at acceptable levels in the medium term.

Real GDP is projected to grow by 4.4% in 2024, thanks to non-oil GDP growth.

Source : Argaam