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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 staf...

“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 i...