2023-09-07 18:26:11
IMF report praises Saudi Arabia’s economic reforms and achievements According to the report, the growth in non-oil income and the decrease in the unemployment rate are the best achievements of Saudi Arabia. Saudi Arabia is praised in the IMF’s 2023 Economic Outlook Report. The report details Saudi economic progress and reforms. In 2022, Saudi Arabia became one of the fastest growing economies in the list of G-20 countries.
Saudi GDP rose to 8.7 percent. In this, the non-oil GDP increased to 4.8 percent which strengthened the economy. The unemployment rate among Saudi citizens has reached a record low of eight percent, a major achievement. Increasing women’s representation in the workforce has led to remarkable progress. Saudi Arabia was able to implement the advancement of women faster than the target. Due to price controls on selected products through domestic subsidies, inflation was contained. According to the report, inflation has been curbed to some extent.
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