The current year will be pivotal for Saudi Arabia, as the Kingdom is well positioned to confront a more challenging environment marked by lower oil prices and higher financing needs, said two officials from the International Monetary Fund (IMF).
Amine Mati, Assistant Director, and Yvonne Rawlinson, officials from the IMF’s Middle East and Central Asia Department, said Saudi Arabia is currently undergoing a strategic shift in some of its spending priorities, with part of its investment focus moving toward artificial intelligence and advanced technologies as part of broader efforts to diversify the economy.
They added that the resilience that emerged in 2025 confirms the tangible progress already achieved in reducing the economy’s exposure to oil price volatility, as the non-oil economy has managed to maintain strong momentum.
This strength reflects the impact of reforms under Vision 2030, as gaps in economic diversification relative to emerging markets have narrowed, while the business environment has now become comparable to that of advanced economies.
The officials further emphasized that growth has not been driven by investment alone, as private-sector job creation has increased significantly and unemployment rates have reached record lows. However, they stressed that continued efforts remain necessary to close the remaining gaps with advanced economies and to sustain the transformation on the right path.
https://www.argaam.com/en/article/articledetail/id/1871631
