Washington - SPA
IMF Expects Continuous Growth of KSA Economy, in 2018-19
Kingdom of Saudi Arabia's economy growth would continue during the
current fiscal Year 2018-19, following a shrink of 0.9%, in 2017,
International Monetary Fund (IMF) announced.
In a report, the IMF pointed out that such a growth is a result of
the Kingdom establishment of capital market, through increasing
financing small and medium size enterprises (SMEs) and expanding funding
channels and opportunities, and furthermore, due to non-oil economic
activity and expected increase of crude production.
Energy prices have shot up, since the issuance of the previous IMF
report: (World Economy Prospects), in April 2018, taking advantage of
oil prices rising, however, the report has explained that KSA increase
of oil and Russia, as well, during the period, has managed to restore
stability, in the world oil market.
The report concluded by expecting a rate of growth in the Middle
East and North Africa of 2.2%, in 2018, and 2.5%, in 2019, respectively.