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“The authorities responded quickly and decisively to the Covid-19 crisis and the economic recovery that is underway is expected to continue,” the Washington-based lender said at the conclusion of its Article IV consultations with Saudi Arabia. The kingdom’s non-oil gross domestic product is projected to grow 3.9 per cent in 2021 and 3.6 per cent next year, after a contraction of 2.3 per cent in 2020. The oil economy of Opec’s biggest exporter is projected to contract 0.5 per cent this year as production curbs by the group and its allies to support prices remain in place. However, it is expected to expand 6.8 per cent in 2022 as they are removed. Oil GDP shrank 6.7 per cent last year as demand and prices declined once movement restrictions to stem the spread of the virus were introduced.

Saudi arabiaUnited statesMohammed al jadaanSector financing support programmeInternational monetary fundSaudi central bankPrivate sector financing support programmeசவுதி அரேபியாஒன்றுபட்டது மாநிலங்களில்துறை நிதி ஆதரவு ப்ரோக்ராம்சர்வதேச பண நிதிசவுதி மைய வங்கிப்ரைவேட் துறை நிதி ஆதரவு ப்ரோக்ராம்