RIYADH: The International Monetary Fund’s (IMF) projection that the Saudi Arabian economy will rise by almost 5 percent next year, as a result of the Kingdom’s decisive handling of the coronavirus pandemic, has been welcomed by economic experts.
“The authorities responded quickly and decisively to the COVID-19 crisis. Reforms under Vision 2030 have played a key role in helping the economy navigate the pandemic,” the fund said.
The IMF estimated that the Saudi gross domestic product (GDP) will grow by 2.1 percent in 2021 and by 4.8 percent in 2022, adding that “the economic recovery is ongoing, the unemployment rate has fallen, and consumer price inflation is easing.”