Saudi Arabia: 2018 Article IV Consultation-Press Release and Staff Report

August 24, 2018

Preview Citation

Format: Chicago

Saudi Arabia: 2018 Article IV Consultation-Press Release and Staff Report, (USA: International Monetary Fund, 2018) accessed November 21, 2024

Also available in: العربية

Summary

This 2018 Article IV Consultation highlights that Saudi Arabia’s real GDP growth is expected to increase to 1.9 percent in 2018, with non-oil growth strengthening to 2.3 percent. Growth is expected to pick-up further over the medium term as the reforms take hold and oil output increases. Risks are balanced in the near-term. The employment of Saudi nationals has increased, especially for women, but the unemployment rate among Saudi nationals rose to 12.8 percent in 2017. Credit and deposit growth remain weak, but both are expected to strengthen owing to higher government spending and non-oil growth. The fiscal deficit is projected to continue to narrow, from 9.3 percent of GDP in 2017 to 4.6 percent of GDP in 2018.

Subject: Budget planning and preparation, Employment, Energy prices, Expenditure, Fiscal consolidation, Labor, Oil prices, Prices, Public financial management (PFM)

Keywords: Amount, Asia and Pacific, Budget planning and preparation, CR, Deficit, East Africa, East Asia, Employment, Energy prices, Europe, Exchange rate, Global, IFC advisory, IMF staff calculation, ISCR, Oil export revenue, Oil price, Oil prices, Revenue reform, SDR Department, Totaling SDR

Publication Details

Pages:

89
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/263
Stock No:

1SAUEA2018001
ISBN:

9781484374269
ISSN:

1934-7685

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