Riyadh – Mubasher: The gross domestic product (GDP) of Saudi Arabia is forecasted to achieve a growth rate of 1.9% during 2020, compared with 0.4% in 2019, according to the World Bank Global Outlook report.
The bank expects Saudi growth to strengthen during 2021 and 2022 to 2.2% and 2.4%, respectively.
This shows a downgrade compared with previous expectations of a 3.1% growth in 2020 and 2.3% in 2021.
The report noted that eight countries will lead the improved growth in emerging economies, namely Saudi Arabia, Argentine, Brazil, India, Iran, Mexico, Russia, and Turkey.
On a global scale, the world’s GDP is forecasted to achieve a 2.5% growth during 2020, the report noted.
