IMF increases Saudi 2021 growth forecast slightly | ZAWYA MENA Edition
The International Monetary Fund (IMF) expects Saudi Arabia, the biggest Arab economy, to post 2.8% economic growth this year, it said on Tuesday.
In July it had forecast 2.4% gross domestic product growth for 2021.
Saudi growth for next year is seen at 4.8%, the IMF said in its latest World Economic Outlook, keeping unchanged its previous forecast.
Saudi Arabia's economy contracted by 4.8% last year amid the twin shocks of the coronavirus pandemic and lower oil prices.
The Saudi ministry of finance said last month it expected 2.6% growth this year followed by a 7.5% expansion in 2022.
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