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  • 20-07-19

    IMF projects 2.9 percent jump in Saudi non-oil growth

    (MENAFN) Saudi Arabia is forecast by the International Monetary Fund (IMF) to achieve a 2.2 percent boost in its non-oil sector growth for 2019.

    IMF's projected boost is attributed to government expenditure and economic reforms, with the total economic production likely to grow in a quick pace for next year following a reduction.

    Next year, the Saudi economy is forecast to climb to hit 3 percent from this year's estimated 1.9 percent growth.

    "Growth is expected to pick-up over the medium-term as ongoing reforms take hold," the IMF affirmed, adding: "the authorities are continuing to implement their reform agenda."

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