Saudi Arabia: 2017 Article IV Consultation-Press Release; and Staff Report

October 5, 2017

Preview Citation

Format: Chicago

Saudi Arabia: 2017 Article IV Consultation-Press Release; and Staff Report, (USA: International Monetary Fund, 2017) accessed November 24, 2024

Also available in: العربية

Summary

This 2017 Article IV Consultation highlights Saudi Arabia’s launch of a bold reform program under Vision 2030, announced in 2016. The authorities have made considerable progress in initiating the implementation of their ambitious reform agenda. Non-oil growth is projected to pick up to 1.7 percent in 2017. Growth is expected to strengthen over the medium term as structural reforms are implemented. Risks mainly come from uncertainties about future oil prices, as well as questions about how the ongoing reforms will affect the economy. Employment growth has weakened, and the unemployment rate among Saudi nationals has increased to 12.3 percent. The fiscal deficit is also projected to narrow substantially in the coming years.

Subject: Energy prices, Expenditure, Fiscal consolidation, Fiscal policy, Oil prices, Prices

Keywords: CR, Director, East Africa, East Asia, Employment growth, Energy prices, Fiscal consolidation, Global, Growth, IFC advisory, IFC PPP, IFC strategy, IMF staff calculation, ISCR, Liquidity management framework, Oil export revenue, Oil GDP, Oil prices, Private sector, SDR Department, Totaling SDR

Publication Details

Pages:

84
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/316
Stock No:

1SAUEA2017001
ISBN:

9781484323175
ISSN:

1934-7685

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