Saudi non-oil GDP growth set to hit 3.6pc next year: IMF RIYADH, 16 hours, 5 minutes ago International Monetary Fund (IMF) has projected that Saudi Arabia's non-oil GDP growth will hit 4.3 per cent this year and 3.6 per cent in 2022, thus reaffirmng the continued recovery of its economy and slowdown of inflation of Consumer Price Index (CPI).
The private sector will lead the growth this year to reach 5.8%, and it will continue in the medium and long term with an average growth of 4.8%, stated IMF in the concluding of the 2021 Article IV consultation released recently.
The IMF staff have commended the Saudi government's swift and decisive response to Covid-19 pandemic, and the early creation of a Supreme Crisis Committee to manage and co-ordinate the efforts between government agencies.