Saudi Arabia Expects Growth ‘Significantly Higher’ Than IMF
- Growth will be ‘north of 1 percent,’ finance minister says
- IMF lowered forecast to 0.4 percent from 2 percent on Monday
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Saudi Arabia’s growth this year will be “significantly higher” than the International Monetary Fund’s new forecast, according to Finance Minister Mohammed Al-Jadaan.
Economic expansion will be “north of 1 percent,” Al-Jadaan said in an interview Tuesday at the World Economic Forum in Davos, Switzerland. The IMF lowered its forecast to 0.4 percent from 2 percent in its World Economic Outlook report update on Monday, citing the impact of lower oil production agreed by members of the Organization of the Petroleum Exporting Countries.