The International Monetary Fund announced in a statement today, Wednesday, that it expects Saudi Arabia's GDP growth to decline to 2.1 percent in 2023 due to OPEC+ oil production cuts. The Fund had predicted last month that Saudi Arabia's GDP growth rate would stand at 3.1 percent. The Saudi economy grew by 8.7 percent last year, bolstered by high oil prices, which helped the Kingdom achieve its first budget surplus in nearly a decade.
OPEC Cuts Reflect on Saudi GDP
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