Saudi Arabia: 2024 Article IV Consultation-Press Release; and Staff Report

Author: International Monetary Fund. Middle East and Central Asia Dept.

Saudi Arabia: 2024 Article IV Consultation-Press Release; Staff Report; and Informational Annex

Volume/Issue: Volume 2024 Issue 280

Publication date: September 2024

ISBN: 9798400288043

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Topics covered in this book

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Exports and Imports , Economics- Macroeconomics , Public Finance , Women , Oil prices , Foreign direct investment

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Summary

Saudi Arabia’s unprecedented economic transformation is progressing well. Strong domestic demand is keeping non-oil growth robust while unemployment is at record lows. Inflation is contained and the current account surplus is rapidly narrowing. The recalibration of the authorities’ investment plans would help reduce overheating risks and pressures on fiscal and external accounts.