World Bank Sees Saudi GDP Growth to Increase to 1.9% in 2020, with More Growth Onward

The World Bank forecasted Saudi Arabia’s GDP growth will increase significantly in 2020, to 1.9%, compared with 0.4% in 2019, with further gains in subsequent years.

The bank expects Saudi growth to strengthen during 2021 and 2022 to 2.2% and 2.4%, respectively.

The latest figures were published in the World Bank Global Outlook report.

The projections are downgraded from previous expectations of 3.1% growth in 2020 and 2.3% in 2021.

On a global scale, the world’s GDP is forecasted to achieve a 2.5% growth during 2020, the report noted.

[Click here to download and read the full report from the World Bank]