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.

Image used for illustrative purpose. Saudi riyal.

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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.

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