RIYADH: According to a research, the Kingdom’s non-oil activities are predicted to produce a 3.7 percent increase in Saudi Arabia’s GDP in 2025. According to the Mastercard Economics Institute’s most recent report, Saudi Arabia’s GDP will grow at a faster rate than the global average, which is predicted to be 3.2 percent in 2025. The Kingdom’s strong non-oil sector growth reflects the country’s gradually advancing economic diversification process, which aims to lessen dependency on crude earnings.
The report projects that Saudi Arabia’s economy will develop faster in 2025 than those of major nations like the US, Germany, Japan, the UK, France, and Australia. “Saudi Arabia is poised to sustain its strong growth trajectory, surpassing global markets, with strong non-oil economic activity and sustained investments in line with Vision 2030,” stated Khatija Haque, chief economist for Mastercard’s Eastern Europe, Middle East, and Africa division.
“The Kingdom’s diversification efforts and supportive economic reforms will solidify its position as a key driver of regional economic expansion as we move into 2025, a year shaped by evolving fiscal and monetary policies,” she continued. Economic landscapes will continue to be reshaped by these structural changes, opening up new avenues for long-term, sustainable growth.
Saudi Arabia’s economy is predicted to continue to be robust, according to a research published in November by the International Monetary Fund. The Kingdom’s GDP is estimated to grow by 1.5% in 2024 and 4.6% in 2025.
Also Read:
The UN Head Gives a Virtual Speech to Kick off the Riyadh Tech Conference
