IMF urges Saudi not to boost spending as oil rises as reforms progress | Reuters

IMF urges Saudi not to boost spending as oil rises as reforms progress | Reuters:

"Saudi Arabia’s economic reforms are going well, the International Monetary Fund said after annual consultations with authorities, urging the government not to boost spending in line with climbing oil prices.

“Saudi Arabia is making good progress in implementing its ambitious reform program under Vision 2030,” Tim Callen, head of an IMF team which held talks with Saudi officials over 12 days this month, said in a statement late on Tuesday.

He predicted economic growth would start picking up this year, after gross domestic product shrank last year for the first time since 2009. "



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