Pioneering treatment reverses incurable blood cancer in some patients    Japan rattled by 7.5-magnitude earthquake, authorities warn of aftershocks    Australia's social media ban for children has left big tech scrambling    Riyadh–Doha high-speed train: What the new project will deliver in six years    In-person classes suspended in Jeddah and Rabigh schools on Tuesday amid issuance of a red alert    Al-Sharaa places a piece of Kaaba's Kiswa, presented by Saudi Crown Prince, at Umayyad Mosque    Saudi economy records 4.8% growth during Q3 2025    Maestro unveils 3 new flavors in collaboration with Netflix    Saudi Crown Prince, French President discuss over phone efforts to achieve regional security    Unicharm Gulf Hygienic partners with Qiddiya as official Family Care Partner of Six Flags and Aquarabia Qiddiya City    Crown Prince and Emir of Qatar co-chair Saudi-Qatari Coordination Council meeting in Riyadh    HONOR and Rotana Music Group announce Strategic Partnership, capturing unrepeatable moments at "Mohamed Abdo Sha'biyat Night"    Inside Saudi Arabia's next great digital leap    Netanyahu says second phase of ceasefire expected 'very shortly' during Merz visit to Israel    Thailand launches airstrikes on Cambodia as Trump's peace agreement hangs in balance    Mohamed Salah says Liverpool have "thrown him under the bus" as relationship with Slot collapses    Saudi creatives shine in Starbucks Design Competition celebrating Year of the Handicraft    Who are the early favourites for the 2026 World Cup? Form, data and draw analysis    Saudi Arabia drawn with Spain, Uruguay and Cape Verde in 2026 World Cup Group H    Saudi Arabia advance to Arab Cup quarterfinals with 3-1 win over Comoros    The key to happiness    Sholay: Bollywood epic roars back to big screen after 50 years with new ending    Ministry launches online booking for slaughterhouses on eve of Eid Al-Adha    Shah Rukh Khan makes Met Gala debut in Sabyasachi    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Saudi Press: IMF Raises its Growth Forecast for Saudi Economy to 2.9% during Current Year
Published in Saudi Press Agency on 07 - 04 - 2021

Saudi newspapers highlighted in their editorials today a number of issues at local, regional and international arenas.
Al-Riyadh newspaper reported in its editorial that reducing the health and economic impacts resulting from the Coronavirus pandemic is a collaborative work between the state and society. Moreover, the members of the society have an important task, which is adhering to the precautionary measures, to support the government's efforts aiming to combat the pandemic.
The newspaper added that, unfortunately, there is a segment of the society whom did not realize the danger of the COVID-19 pandemic, as they continue with their irresponsible behavior, represented in not wearing face masks, not maintaining physical distancing and continuing with large family gatherings. This thing is reflected on the epidemiological situation and the increase of daily cases.
Therefore, commitment to preventive measures and making them a part of daily life is the only option.
Al-Eqtisadiah newspaper reported in its editorial that despite the large challenges and the tremendous economic impacts of the COVID-19 pandemic, the private sector's contribution to Saudi Arabia's GDP at constant prices rose in 2020 to 41.1%, compared to 40.7% in 2019, noting that the private sector's share was about 39.3% in 2015 before the launch of the Kingdom's Vision 2030.
These numbers confirm the success of the Saudi plans being implemented since the launch of Vision 2030 to stimulate the private sector. These important steps and plans resulted in strengthening the society, as they enabled the government to implement all plans to protect society from the pandemic, including the complete lockdown, but nevertheless the private sector achieved a jump in levels of GDP.
According to the analysis of the reports unit in Al-Eqtisadiah newspaper, based on official data, the share of the private sector in the Saudi economy in 2020 is the highest since 2010. Economic figures show that Saudi GDP at constant prices decreased by 4.1% during the past year. This decline is due to a decline in the oil sector by about 6.7%, and a decline in the non-oil sector by a lower rate of 2.3%. From these results, we realize that the huge efforts that were exerted before the pandemic resulted in reducing the great connection between the Saudi economy and fluctuations in oil prices.
In a similar context, Okaz newspaper reported in its editorial that the latest report by International Monetary Fund (IMF) raised its growth forecast for Saudi economy to 2.9% instead of 2.6% during the current year, and by 4% next year, as this affirms strength of the Saudi economy in overcoming challenges, while moving towards achieving Vision 2030.
The newspaper further said that Saudi Arabia was able to significantly reduce any negative repercussions of the pandemic, while safeguarding the private sector. The thing was affirmed by the General Authority for Statistics (GASTAT), as 74,000 Saudis joined the job market last year, in light of the suffering of developed countries from high unemployment rates.


Clic here to read the story from its source.