«النقد الدولي»: الاقتصاد السعودي أثبت قدرته على مواجهة الصدمات

The Executive Board of the International Monetary Fund (IMF) concluded its Article IV consultations with the Kingdom of Saudi Arabia for this year, praising the strength and resilience of the Saudi economy.

The Fund confirmed that Saudi Arabia's economy has proven its ability to withstand shocks robustly, highlighting the remarkable performance of the non-oil sector. It noted the continued growth of Saudi Arabia's non-oil economy and the unprecedented decline in unemployment.

In the context of public finances, the Fund stated that Saudi Arabia's financial safety margins remain substantial even if the budget deficit persists, emphasizing that adopting a counter-cyclical fiscal stance is important for Saudi Arabia at this time.

Structural Reforms

It stressed the pivotal importance of structural reforms for the Saudi economy, clarifying that they are essential regardless of oil prices.

On the financial sector front, the report indicated that the Saudi banking sector remains strong in terms of profitability and capital. The Fund pointed to another positive indicator, which is that non-performing loans in Saudi Arabia have reached their lowest levels since 2016.

The Fund noted that the Vision 2030 projects continue to support the economy in the medium term.