Riyadh – Mubasher: International Monetary Fund (IMF) maintained its expectation for the Saudi economy at 2% for 2017, which are the same released in July, while it increased it 0.1% compared to its estimated in April.
IMF also maintained its expectation for the Saudi economy at 1.2% for 2016, according to World economic outlook report.
The report pinpointed that the Middle East is still facing tough challenges amid lower oil prices, the downfall of geopolitical tensions and civil conflicts in some countries.
The fund expected an increase in oil prices gradually to $51 per barrel (pb) in 2017 from $43 pb in 2016.
The report added that the recovery witnessed in oil prices recently is expected to have a limited impact on the growth in the oil exporting counties in the Middle East.
