According to the World Bank’s Chief Economist for the Middle East and North Africa (MENA) region, Roberta Gatti, Saudi Arabia’s economy is on track for a 5.9 percent expansion by the year 2025. This optimistic projection is attributed to a significant increase in oil production coupled with an expected rise in crude prices.
Roberta Gatti has indicated that the Kingdom’s Gross Domestic Product (GDP) will benefit from substantial investments, robust private sector spending, and the maintenance of low inflation rates through generous subsidy programs.
These recent insights from the World Bank show an upward revision from their earlier estimate of 4.2 percent GDP growth for Saudi Arabia. Furthermore, Gatti has highlighted the anticipation that the non-oil private sector will see growth reaching 4.8 percent in the current year.