The GDP value of Saudi Arabia represents 0.66 percent of the world economy. RIYADH: Economists forecast that the Saudi economy will grow significantly bigger over the coming decade with the size of every sector expected to increase. According to the IMF's April 2021 forecast, the country is expected to grow by 2.9% in 2021 and 4% in 2022, thanks to the expansion of hydrocarbon activity and resumption of capital projects. The uncertainties in the economic outlook and concerns over liquidity, capital and asset quality pushed the Saudi … Saudi Arabia still has a far stronger sovereign net foreign asset (SNFA) position than the 'A' category median. S&P Global Ratings affirmed Saudi Arabia’s sovereign credit ratings at ‘A-/A-2’ with a stable outlook, saying the national economy will likely return to positive growth in 2021 with a reduction of the fiscal deficit ratios. Global Economic Outlook March 2021. Saudi Arabia’s real gross domestic product (GDP) is expected to grow 2.1% this year and 4.8% in 2022, the International Monetary Fund (IMF) said. India, Nigeria, Saudi Arabia, the UK and the US, to name a few, identify and discuss some of the risks – and opportunities – that are facing their local governments and organizations. Saudi Arabia Economic News. Needless to say, 2020 was a turbulent year in many respects. Saudi Arabia: Inflation eases in March. April 15, 2021. Read more. April 9, 2021. Ltd. - Saudi Arabia PESTLE Insights - A Macroeconomic Outlook 2021 - published on openPR.com It added that real non-oil GDP growth rebounded in the second half of 2020 and high-frequency indicators suggest the recovery has continued in 2021. The economy of Saudi Arabia is one of the top twenty economies in the world, and the largest economy in the Arab world and the Middle East. Saudi Arabia Plans Spending Cuts in 2021 as Economy Recovers By . According to the IMF’s World Economic Outlook, the UAE’s economy will contract 3.5 percent in 2020 amid the pandemic, but is expected to grow 3.3 percent in 2021. Real oil GDP growth is projected to reach -0.5% in 2021, according to … The growth forecast for 2022, however, was revised up to … Consumer prices decreased 0.14% over the previous month in March, after February’s 0.13% fall. Atlanta’s economy and the Colliers Index started 2021 in the red, remaining at a 3 for the month of January. DUBLIN, April 26, 2021 /PRNewswire/ -- The "Kingdom of Saudi Arabia (KSA) Healthcare Industry Outlook, 2021 - Innovative Public-Private Partnerships Transforming the … According to the IMF's April 2021 forecast, the country is expected to grow by 2.9% in 2021 and 4% in 2022, thanks to the expansion of hydrocarbon activity and resumption of capital projects. We expect economic growth in Saudi Arabia to improve in 2020 as both the oil and non-oil sectors contribute to overall growth. Saudi Arabia’s economic freedom score is 66.0, making its economy the 63rd freest in the 2021 Index. Saudi Arabia based on KSA's 2021 Fiscal Year 2021 Budget Statement. The Colliers Index is a 1-10 scale assessing Atlanta's commercial real estate sector as measured by key economic indicators, current and projected market fundamentals and … This will contribute to the erosion of Saudi Arabia's balance sheet strengths and to a worsening of its overall net external creditor position (to 28% of GDP by 2022, from an estimated 45% of GDP in 2020 and 51% of GDP in 2019, compared with a forecast net external creditor position of 9% for the 'A' median in 2022). Saudi Arabia expects its economy will grow by 3.2% in 2021, recovering from the projected 3.7% contraction this year when the kingdom's economy was … ... That is a more optimistic estimate than the 5.4% contraction forecast … Dublin, April 12, 2021 (GLOBE NEWSWIRE) -- The "Saudi Arabia Projects, H1 2021 - Outlook of Major Projects in Saudi Arabia - MEED Insights" report has … DUBLIN, April 14, 2021 /PRNewswire/ -- The "Saudi Arabia Projects, H1 2021 - Outlook of Major Projects in Saudi Arabia - MEED Insights" report has been added to … The International Monetary Fund (IMF) projected Saudi Arabia’s real GDP growth at 2.1 percent this year, noting that the real non-oil GDP growth recovery is expected to reach 3.9 percent in 2021. Debt issuance will be complemented by drawdowns from the government reserve account. Banking perspectives 2021: Saudi Arabia. Saudi Arabia is part of the G20 group of countries.. With a total worth of $34.4 trillion, Saudi Arabia has the second most valuable natural resources in the world. ... or 12% of gross domestic product, this year. The OECD Interim Economic Outlook provides analysis and GDP growth forecasts for all G20 countries and the world economy as a whole. Compiled by global forecasting firm Oxford Economics, Economic Update: Middle East Q1 2021 report indicated that most of the region’s economies will benefit from higher commodity prices and stronger external demand in the second half of 2021. The global economy faced novel challenges, and organizations – banks included – were forced to rethink their business models and roles in society. The “Kingdom of Saudi Arabia (KSA) Healthcare Industry Outlook, 2021 - Innovative Public-Private Partnerships Transforming the Sector” report has been added to ResearchAndMarkets.com’s offering. Saudi Arabia - Staff Concluding Statement of the 2021 Article IV Mission May 3, 2021 A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. The Gross Domestic Product (GDP) in Saudi Arabia was worth 792.97 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. Recent. Saudi Arabia Healthcare Industry Outlook 2021 - Innovative Public-Private Partnerships Transforming the Sector - ResearchAndMarkets.com April 06, 2021 08:34 AM Eastern Daylight Time The World Bank report titled ‘Gulf Economic Update’ said that Saudi Arabia is expected to achieve current account surplus ranging from 5.9% of GDP in 2019 to 7.9% in 2021. Extended OPEC production cuts and declining oil prices in 2020 pulled the Saudi economy into recession, with GDP contracting by an estimated 4.1%. The "Kingdom of Saudi Arabia (KSA) Healthcare Industry Outlook, 2021 - Innovative Public-Private Partnerships Transforming the Sector" report has been added to … Press release - HTF Market Intelligence Consulting Pvt. Saudi Arabia’s construction sector will return to positive growth during 2021 following its fall into recessionary territoryduring 2020 amid the Covid-19 pandemic's initial economic impact. UAE based on IMF World Economic Outlook October 2020 forecast 26) TradeArabia, “ Bahrain draft budget sees $12.26bn revenue in FY2021-22 .” The International Monetary Fund (IMF) on Monday revised down Saudi Arabia's economic growth forecast for 2021 to 2.1% from 2.9%. Saudi Arabia: Oil prices dip in early April. Dublin, April 09, 2021 (GLOBE NEWSWIRE) -- The "Construction in Saudi Arabia - Key Trends and Opportunities to 2025 (Q1 2021)" report has been added to ResearchAndMarkets.com's offering. We expect the government reserve to fall to 12% of GDP by 2021, from 18% of GDP in 2019. 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