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  • 27-07-22

    IMF increases Saudi economy expansion prediction for next year

    (MENAFN) The International Monetary Fund has increased its prospects for the expansion of the Saudi economy in the following year to 3.7 percent, rising from its last prediction last April at 3.6 percent.

    The IMF has kept its forecasts for the Kingdom’s economic expansion in this year stable at 7.6 percent, in line with an update of its World Economic Outlook.

    All over the world, the fund had decreased worldwide expansion predictions once again, cautioning that downside dangers from high inflation and the Ukraine conflict were materializing and could force the world economy to the edge of downturn if it was not checked.

    Worldwide real GDP expansion will fall to 3.2 percent in 2022 from a prediction of 3.6 percent issued in April, the IMF stated in an update of its World Economic Outlook.

    It went on that world GDP actually shrunk in the April-June period because of recessions in China and Russia.

    MENAFN27072022000045012476ID1104599861

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