The International Monetary Fund (IMF) upgraded its forecast for Saudi Arabia’s economic growth in 2025 from 5.50% to 6%.

The fund expects the Saudi economy to be the second-fastest growing economy in 2025 after India, according to the Saudi News Agency (SPA).

The IMF’s World Economic Outlook report shed light on the kingdom’s efforts to diversify the economy and achieve huge non-oil revenues.

It is worth noting that the latest Purchasing Managers’ Index (PMI) report of Saudi Arabia showed a robust improvement in operating conditions across the kingdom’s non-oil private sector at the end of the first quarter (Q1) of 2024.

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