World Bank raises Saudi Arabia�s 2022 growth forecast to 4.9%

Aran News Saudi Arabia13 Oct, 2021News

Its October?s economic update for the Middle East and North Africa region said the Kingdom?s growth will partly be driven by a significant rebound in the oil sector in 2022 following OPEC+ production cuts that are in place until December 2021. The World Bank report upgraded Saudi Arabia?s exports growth by more than double from 4.7 percent to 9.6 percent. The Kingdom?s industrial output is now expected to grow by 5.4 percent, up from April?s forecast of 2.4 percent.