Economic news

IMF Economic Forecasts More Pessimistic Than Saudi Arabia's

DUBAI, June 30 (Reuters) - Saudi Arabia’s central bank governor said the International Monetary Fund’s economic contraction forecast for Saudi Arabia was “more pessimistic” than Saudi Arabia’s own forecasts.

The IMF has estimated the Saudi economy will contract by 6.8% this year.

Saudi Arabia’s non-oil economy is expected to bounce back quickly as coronavirus restrictions are lifted, Saudi Arabian Monetary Authority (SAMA) Governor Ahmed al-Kholifey said, without providing a number.

He was speaking at a virtual economic forum.

Reporting by Davide Barbuscia, Marwa Rashad; Editing by Alex Richardson

Source: Reuters

To leave a comment you must or Join us

More news

Back to economic news list

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree