Press Release No. 18/106

The statement by IMF Managing Director Christine Lagarde on Meeting with Saudi Arabia’s Crown Prince Mohammed bin Salman

March 23, 2018

Christine Lagarde, Managing Director of the International Monetary Fund (IMF), met today with Saudi Arabia’s Crown Prince Mohammed bin Salman in Washington, DC. Following the meeting, Ms. Lagarde made the following statement:

“Crown Prince Mohammed bin Salman and I discussed recent economic developments in Saudi Arabia and the ongoing economic reforms. The authorities are continuing to make good progress in implementing their ambitious reform agenda including through the recent introduction of the VAT and measures to increase women’s participation in the economy. The decision to slow the pace of fiscal adjustment as was set out in the 2018 budget is appropriate. The IMF expects real GDP growth to pick-up this year."