Saudi Arabia’s economy expected to grow 4% in 2024, report says
Experts at Aljazira Capital think Saudi Arabia’s economy will grow by about 4% next year. This is similar to what the Saudi government expects.
They say growth will come from big projects, government spending, and more businesses and people working.
Consumer spending is also expected to rise, with unemployment going down and more jobs in areas outside of oil.
Aljazira Capital also expects lower interest rates, which could bring in more money from investors. They think the stock market will do well because of this.
Even though the global economy is expected to slow down a bit, the experts still think oil prices will stay high next year. They say OPEC will play a big role in keeping prices stable.
Overall, the report is positive about Saudi Arabia’s economy in 2024. They expect growth, more jobs, and a strong stock market.
Here are some key points in simpler terms:
- Saudi Arabia’s economy is expected to grow by about 4% next year.
- This will be due to big projects, government spending, and more businesses and people working.
- Consumer spending will also rise, with unemployment going down and more jobs in areas outside of oil.
- Interest rates are expected to come down, which could bring in more money from investors.
- The stock market is expected to do well because of this.
- Oil prices are expected to stay high next year.
- Overall, the report is positive about Saudi Arabia’s economy in 2024.
