Riyadh – Saudi Arabia’s inflation is expected to decline by 1.1% in 2019, according to a report released by the International Monetary Fund (IMF).

The IMF ascribed the decline in the oil-rich country’s inflation to the decrease in rents.

Saudi Arabia’s consumer price index (CPI), which is known as inflation, declined by 1.5% year-on-year in May, according to data released by the General Authority for Statistics (GASTAT).

With the growth of the non-oil economy, the credit volume increased in Saudi Arabia, the IMF’s report said.

The IMF expected that Saudi deficit would decline to 5.1% of GDP in 2020 and increase later after oil prices plunge.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

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.