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  • 21-10-21

    Saudi Arabia to see 5.1 percent economic growth in 2022

    (MENAFN) A Reuters' economists poll declared that Saudi Arabia, the world's largest crude oil exporter and the region's economic and political heavyweight, is going to witness 5.1 percent economic development in 2022 following a modest 2.3 percent growth in 2021 and a strong 4.1 percent decrease in 2020.

    It further declared that it was an advancement from the July Reuters poll and higher than the International Monetary Fund's 4.8 percent prediction for the next year.

    A Reuters poll of economists who cautioned a drop in oil and gas prices was the biggest risk to their outlook stated that economies in the six-member Gulf Cooperation Council is going to develop wilder in 2022 than estimated.

    The oil-rich region is going to get advantage from an improved COVID-19 vaccination rate, increasing oil prices and facilitation of lockdown restrictions this year and next, the poll suggested.

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