IMF Commends Saudi Arabia’s Economic Resilience, Non-Oil Growth, and Fiscal Transparency

Riyadh, August 3 (Saudi Arabia Breaking News) – The Ministry of Finance has welcomed the findings of the International Monetary Fund (IMF) following the conclusion of its 2025 Article IV Consultation with the Kingdom, which praised Saudi Arabia’s strong resilience to external shocks and the ongoing expansion of its non-oil economy.

The IMF report highlighted several key indicators, including the successful containment of inflation, a decline in unemployment to historic lows, and the continued strength of non-oil GDP, which grew 4.5% in 2024, alongside a 6.3% increase in private investment year-on-year.

For 2025, the IMF projects that real non-oil GDP will grow by 3.4%, supported by robust domestic demand, the easing of OPEC+ production cuts, and the ongoing execution of major Vision 2030 projects. The report emphasized that private investment and consumption will remain central to sustaining growth despite global economic uncertainty and falling commodity price expectations.

The IMF also commended Saudi Arabia’s fiscal policy framework, including its enhanced disclosure of fiscal data, risk analysis, and the shift toward medium-term financial planning. It noted the government’s proactive strategy of setting spending ceilings for all entities through 2030, as well as its scenario-based planning to ensure long-term fiscal sustainability.

The report indicated that the impact of global trade tensions on Saudi Arabia remains limited and that domestic economic fundamentals, including strong credit growth and high-impact public investment, will continue to drive the Kingdom’s economic performance.