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Finance Ministry Cheers IMF 2026 Report
The Saudi Ministry of Finance welcomed the International Monetary Fund's report on the 2026 Article IV consultations, which praised the resilience of the Saudi economy in facing geopolitical tensions in the region. The report indicated that the gross domestic product (GDP) grew by 4.6% during 2025, with the non-oil primary deficit decreasing to 23.3% of the GDP in 2024. It also noted that the kingdom manages a strong economy thanks to strategic infrastructure investments, such as the East-West pipeline project, which boosts exports and mitigates the impact of tensions. Additionally, the report highlighted that government debt remains low, country reserves are strong, and the banking sector enjoys high capital and liquidity, with non-performing loans falling to their lowest level in a decade. The report commended the reforms under Saudi Vision 2030, which reduced dependence on oil, improved policy efficiency, enhanced economic performance, and positioned the country at the forefront of AI adoption, expected to raise GDP growth by up to 6% over the next decade. It concludes that the Saudi economy demonstrates resilience and sustainability, with ongoing structural reforms aimed at bolstering the kingdom's global economic position.
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