Saudi Arabia: 2016 Article IV Consultation-Press Release; Staff Report; and Informational Annex

October 13, 2016

Preview Citation

Format: Chicago

Saudi Arabia: 2016 Article IV Consultation-Press Release; Staff Report; and Informational Annex, (USA: International Monetary Fund, 2016) accessed November 22, 2024

Also available in: العربية

Summary

This 2016 Article IV Consultation highlights that real GDP growth in Saudi Arabia is expected to slow to 1.2 percent in 2016, but recover to 2 percent in 2017 as the pace of fiscal consolidation eases. Inflation has risen in recent months to more than 4 percent owing to increase in energy and water prices. Bank deposits have declined, but growth of credit to the private sector remains strong. Capital buffers are high, nonperforming loans low, and banks are well provisioned against loan losses. The current account deficit is projected to narrow to 6.4 percent of GDP in 2016 and then move close to balance by 2021 as oil prices partial recover.

Subject: Commodities, Credit, Expenditure, Fiscal consolidation, Fiscal policy, Money, Oil, Oil prices, Prices

Keywords: CR, Credit, Deficit, East Africa, East Asia, Fiscal consolidation, Global, Government debt issuance, IFC activity, ISCR, Liability positions vis-à-vis nonresident, Oil, Oil prices, Private sector, Revenue reform, SDR Department, Totaling SDR

Publication Details

Pages:

80
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/326
Stock No:

1SAUEA2016001
ISBN:

9781475539523
ISSN:

1934-7685

Notes

Also available in Arabic

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