According to the IMF’s Article IV Consultation, Vision 2030 programs are having a positive impact on the economy as they progress from design to implementation stages. This is paralleled with expectations for real non-oil growth to strengthen to 2.9 percent in 2019 and 3.2 percent over the medium term. The IMF further credited Saudi reforms aimed at strengthening the legal framework, creating jobs and improving the business climate for the positive economic outlook. The report also indicated that the increase in the government spending and boosted confidence in the economy support economic activity. To read the full conclusions of the report, click here.
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