00:00Another week has gone by and we've got another upgrade for the Saudi economy, this time the IMF upgrading GDP forecast growth.
00:09I mean, what has the IMF said in its World Economic Outlook about Saudi Arabia?
00:13So essentially, if we compare what the IMF were looking for back in April, they were expecting growth somewhere around 3 percent.
00:20That got upgraded at that time to 3.4 and 3.6 percent around that range.
00:25This week, they've come out in their World Economic Outlook to expect 4 percent growth GDP for 2025 and 4 percent growth in 2026 as well.
00:35So we've seen another upward revision.
00:36And actually, this is successive weeks that we're talking about further upgrades for the Saudi Arabian economy.
00:43And last week, we were speaking about the World Bank.
00:44We also spoke about the OECD just the week before.
00:47And of course, we also spoke about the previous IMF upgrade.
00:51So it seems that the world-leading institutions and think tanks are all on the same wavelength, that the Saudi Arabian economy needs to be upgraded for its GDP forecasts.
01:00And it seems like despite global economic weakness and some concerns about the global economy when it comes to trade tariffs and some other uncertainties,
01:10that the Saudi Arabian economy actually continues to buck some of the more pessimistic trends elsewhere.
01:16And it wouldn't surprise me if we have more upgrades between now and the end of the Q4 2025 as well.
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