Saudi reforms to boost growth despite any Aramco IPO delay: IMF | Reuters

Saudi reforms to boost growth despite any Aramco IPO delay: IMF | Reuters:

Saudi Arabia is moving ahead with economic reforms and growth in its non-oil economy will pick up this year despite any delay to the planned sale of shares in national oil giant Saudi Aramco, a senior International Monetary Fund official said on Friday. 

“Aramco was one part of the reform program. Other parts are moving ahead pretty well,” Tim Callen, the IMF’s mission chief for Saudi Arabia, told reporters after annual consultations with the Saudi government.

He said the IMF’s projections for Saudi economic growth to accelerate in coming years were based on expectations for a broad range of reforms to continue, and did not include the impact of a planned initial public offer of Aramco shares.