Saudi economic growth forecast raised to 5.5% by 2027, reflecting resilience

Osama Kurdi, head of the International Chamber of Commerce's National Committee at the Federation of Saudi Chambers, has revealed that major global organizations have increased their projections for Saudi Arabia's economic expansion in 2027. The forecast is now set at 5.5%, according to Kurdi, a testament to the country's robust economic stability and potential for growth.

Kurdi spoke to Al Ekhbariya TV, explaining that the three international bodies' decision to raise their growth estimates for Saudi Arabia reflects a strong belief in the nation's economic trajectory. He emphasized that the anticipated growth acceleration in 2027 is a clear indication of the Saudi economy's resilience, capable of thriving despite global economic hurdles.

The International Monetary Fund has also revised its forecast, projecting a 5.5% growth rate for Saudi Arabia in 2027. This optimistic outlook is attributed to the country's robust performance in both oil and non-oil sectors, coupled with sustained government investment and ongoing structural reforms as part of Saudi Vision 2030.

Kurdi believes these revised forecasts and the consensus among international organizations are a strong sign of confidence in Saudi Arabia's ability to maintain its economic growth amidst ongoing geopolitical and economic challenges worldwide.