A report card on Saudi Arabia's transformation
Description
Saudi Arabia's transformation is full speed ahead. So how is it going so far? The latest IMF report on Saudi Arabia ("Saudi Arabia: Concluding Statement of the 2024 Article IV Mission") is, in some ways, a report card on Saudi Arabia's reforms and the changes happening to the Kingdom's economy. Successes in non-oil growth, employment, inflation control, and financial sector stability top the performance report for the IMF.
The IMF notes that Saudi Arabia’s "unprecedented economic transformation is progressing well. Prudent macroeconomic policies, transformative changes—including through fiscal reforms and in the regulatory business environment—and strong domestic demand have helped prop up non-oil growth. Inflation remains contained. Spending reprioritization and recalibration of major spending programs are ongoing. Efforts to diversify the economy have started to bear fruit."
Lucien and Hanaa discuss the report and some of the recommendations from the IMF.
The hosts conclude as always with a discussion of some of the latest news headlines.
United States
