Lakhasly

?Through economic reforms that ease dependence on oil as a major economic activity, strategies for diversifying non-oil sources of income have been developed within the so-called Saudi Vision 2030.The International Monetary Fund (IMF) had raised its forecast for Saudi Arabia's economy to 4.7% in 2025, compared with its previous estimate in June of 4.5% growth.In 2021, economies have recently begun to recover somewhat, thanks to measures imposed by countries to break out of the crisis, most notably the easing of precautionary measures and restrictions on certain economic activities and the availability of vaccines and others.The IMF estimates that the global economy grew by 5.9% in 2021.All economic activities achieved positive growth rates during 2022, with the contribution of crude oil and natural gas activities at 32.7%, followed by government services activities at 14.2%, followed by manufacturing activities except oil refining at 8.6% and wholesale, retail, restaurant and hotel activities at a contribution of 8.2%.Preliminary estimates indicate that Saudi GDP contracted at constant prices (Saudi economy) by 3.7% during this year 2020, and forecast growth of 3.2% next year.[39] In March 2024, Saudi Arabia's total non-oil economy reached 1.7 trillion rials, with non-oil activities registering their highest contribution to real GDP in 2023 at 50%, an all-time high.The Fund reported that the oil contraction was the result of the extension of oil production cuts in 2024, before production gradually recovered to 10 million barrels per day (bpd) in 2025.As a result of the coronavirus outbreak, oil prices have slumped.

‏Through economic reforms that ease dependence on oil as a major economic activity, strategies for diversifying non-oil sources of income have been developed within the so-called Saudi Vision 2030. Those reforms raised the expected economic growth rate from 1.8% in 2019 to 2.1% in 2020.

Preliminary estimates indicate that Saudi GDP contracted at constant prices (Saudi economy) by 3.7% during this year 2020, and forecast growth of 3.2% next year. As a result of the coronavirus outbreak, oil prices have slumped.

In 2021, economies have recently begun to recover somewhat, thanks to measures imposed by countries to break out of the crisis, most notably the easing of precautionary measures and restrictions on certain economic activities and the availability of vaccines and others.The IMF estimates that the global economy grew by 5.9% in 2021.

In 2022, Saudi Arabia's economy achieved GDP growth of 8 7%, the highest growth rate among G20 countries.
All economic activities achieved positive growth rates during 2022, with the contribution of crude oil and natural gas activities at 32.7%, followed by government services activities at 14.2%, followed by manufacturing activities except oil refining at 8.6% and wholesale, retail, restaurant and hotel activities at a contribution of 8.2%.

In the 2023 year, the Saudi budget generated total revenues of about 1.21 trillion rials against total expenditures of about 1.29 trillion rials. [39] In March 2024, Saudi Arabia's total non-oil economy reached 1.7 trillion rials, with non-oil activities registering their highest contribution to real GDP in 2023 at 50%, an all-time high.
The International Monetary Fund (IMF) had raised its forecast for Saudi Arabia's economy to 4.7% in 2025, compared with its previous estimate in June of 4.5% growth.
The Fund reported that the oil contraction was the result of the extension of oil production cuts in 2024, before production gradually recovered to 10 million barrels per day (bpd) in 2025.