IMF Staff Country Reports

Saudi Arabia : 2017 Article IV Consultation-Press Release; and Staff Report

Author/Editor:

International Monetary Fund. Middle East and Central Asia Dept.

Publication Date:

October 5, 2017

Electronic Access:

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Summary:

Saudi Arabia has embarked on a bold reform program under Vision 2030. Reform momentum is strong, and good progress is being made in reform implementation. Saudi Arabia has reduced oil production under the OPEC+ agreement. Non-oil growth is expected to pick-up this year, but overall GDP growth will be close to zero given the decline in oil production. Growth is expected to strengthen over the medium-term as structural reforms are implemented. Risks mainly come from uncertainties about future oil prices and how ongoing reforms will impact the economy.

Series:

Country Report No. 17/316

Subject:

Article IV consultation reports Balance of payments statistics Bank supervision Currency pegs Economic indicators Fiscal consolidation Fiscal policy Labor market reforms Oil prices Press releases Saudi Arabia Staff reports