Saudi Arabia: 2015 Article IV Consultation - Press Release; Staff Report; and Informational Annexl

September 9, 2015

Preview Citation

Format: Chicago

Saudi Arabia: 2015 Article IV Consultation - Press Release; Staff Report; and Informational Annexl, (USA: International Monetary Fund, 2015) accessed November 21, 2024

Also available in: العربية

Summary

This 2015 Article IV Consultation highlights that the rising oil prices and production resulted in large external and fiscal surpluses for Saudi Arabia. Real GDP growth is projected to slow to 2.8 percent in 2015, and then further to 2.4 percent in 2016 as government spending begins to adjust to the lower oil price environment. Nevertheless, government debt is very low and was 1.6 percent of GDP at end-2014. The current account surplus declined to 10.9 percent of GDP in 2014. It is expected to move into a small deficit in 2015 but return to surplus during 2016–20. Over the medium term, growth is expected to be about 3 percent. Inflation is likely to remain subdued.

Subject: Banking, Commercial banks, Commodities, Expenditure, Financial institutions, Fiscal consolidation, Fiscal policy, Oil, Oil prices, Prices

Keywords: Commercial banks, CR, Deficit, East Africa, East Asia, Expenditure growth, Financial asset, Fiscal consolidation, Global, Growth slowdown, IFC activity, ISCR, Liability positions vis-à-vis nonresident, Middle East, Oil, Oil price, Oil prices, SDR Department, Surplus, Totaling SDR

Publication Details

Pages:

70
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/251
Stock No:

1SAUEA2015001
ISBN:

9781513551111
ISSN:

1934-7685

Notes

Also Available in Arabic

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