Saudi Arabia’s Economy Forecasted to Expand by 4.9% in 2025: World Bank
In a recent projection by the World Bank, Saudi Arabia’s economy is expected to witness a significant growth rate of 4.9% in the year 2025. This optimistic forecast underscores the Kingdom’s diverse economic strategies and initiatives that are geared towards enhancing development and sustainability.
The World Bank’s report highlights Saudi Arabia’s continued efforts to diversify its economy away from oil dependency, focusing instead on sectors such as tourism, entertainment, and technology. These efforts are in line with the Saudi Vision 2030, a strategic framework aimed at reducing the Kingdom’s reliance on oil, expanding public service sectors, and fostering an innovative, knowledge-based economy.
Furthermore, the projected growth can be attributed to robust governmental policies and investments in infrastructure and human capital, which are anticipated to bolster economic activities across various sectors.
The report also notes the global economic landscape, suggesting that Saudi Arabia’s strategic initiatives are positioned to leverage emerging global trade opportunities.
These projections come amid broader efforts by Saudi Arabia to enhance its economic resilience and drive regional economic integration. The focus on sustainability and innovation is expected to play a critical role in maintaining the country’s economic momentum.
[Source: Arab News]
