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Wednesday, 19 April 2017

IMF Lowers Saudi Arabia Growth Forecast After Oil Output Cut - Bloomberg

IMF Lowers Saudi Arabia Growth Forecast After Oil Output Cut - Bloomberg:

"The International Monetary Fund lowered its growth forecast for Saudi Arabia next year, as oil production cuts and austerity measures take a toll on the biggest Arab economy.

The Saudi economy is expected to expand 1.3 percent in 2018, down from a 2.3 percent projection in January, the IMF said in its World Economic Outlook report on Tuesday. The Washington-based lender left this year’s forecast unchanged at 0.4 percent, citing “lower oil production and ongoing fiscal consolidation.”"



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