Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Economy

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

IMF upgrades Saudi Arabia’s 2025 economic growth prediction to 5.5%

A view of Al Majdoul skyscraper in Riyadh. AFP/Representational pic)
By TRENDS Desk
February 3, 2024 8:18 am
  • The IMF envisions a 3.1% global economic growth in 2024, followed by a further increase to 3.2% in 2025
  • The upgraded forecast reflects the continuous economic growth and prosperity in the Kingdom

Riyadh, Saudi Arabia – The International Monetary Fund (IMF) has revised its growth projections for Saudi Arabia’s economy, revealing a more optimistic outlook. The latest forecast anticipates a 5.5% growth rate for the Kingdom in 2025, representing an increase from the initial projection of 4.5% made in October 2023.

The upgraded forecast reflects the continuous economic growth and prosperity in the Kingdom.

The adjustment is based on recent data featured in the IMF’s ‘Updates on Global Economic Prospects’ report from January 2024. The report highlights a positive perspective on the resilience of the Saudi economy and its ability to thrive amid global economic challenges and uncertainties.

The IMF envisions a 3.1% global economic growth in 2024, followed by a further increase to 3.2% in 2025.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]