Jadwa Investment revises up Saudi GDP growth in 2022, expects budget surpluses till 2023
Kingdom's GDP is expected to grow by 7 percent next year up from last month's forecast of 5.1%
Image used for illustrative purpose. Saudi riyal.
By Ziad Sabbah, Arab News
CAIRO: Saudi investment bank, Jadwa Investment, revised its forecast for Saudi Arabia's GDP growth next year, while it expects the Kingdom's to report budget surpluses in 2022 and 2023 as the government will cut spending, according to a report today.
The Kingdom's GDP is expected to grow by 7 percent next year up from last month's forecast of 5.1 percent, it said.
The surplus next year is expected at SR35 billion ($9.3 billion) while that of 2023 is estimated at SR37 billion.
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.
Get Zawya's daily newsletter for insightful and exclusive Middle East perspectives on business and finance. SUBSCRIBE NOW