The International Monetary Fund (IMF) welcomed on Wednesday Saudi Arabia's "substantial growth rebound," subdued inflation, and stronger external position, the organization said in a report.
According to the text, "Saudi Arabia is recovering strongly following a deep pandemic-induced recession," while adding that the economic growth was strong at 3.2% last year, accompanied by a significant increase to 7.6% in 2022, despite the global outlook and the war in Ukraine.
"The receding effects of the pandemic, rising oil production/prices, and a strengthening economy have improved the fiscal and external positions," stressed the report.
