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World Bank Revises Saudi Growth to 7.9%
The World Bank has raised its forecast for Saudi Arabia's economic growth in 2027 to 7.9%, representing a 3% increase from its previous estimate in April 2026. It is expected that Saudi Arabia's GDP will shrink by 2% in 2026, following a 4.6% growth in 2025, due to significant economic costs resulting from regional conflicts—especially for oil-exporting Gulf countries—caused by the closure of the Strait of Hormuz and its negative impact on exports and revenues. Despite these challenges, growth is projected to rebound to 7.8% in 2027, driven by the recovery in hydrocarbon production, with an emphasis on the role of artificial intelligence in boosting productivity—potentially providing 13% to 20% of job opportunities and enhancing business efficiency in the region.
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