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OECD: Saudi economy to grow 4% in 2027
The Secretary-General of the Organisation for Economic Co-operation and Development (OECD) predicted that the Saudi economy will grow by around 4% in 2027, supported by a variety of oil export options and the reforms undertaken by the Kingdom to diversify its economy. He explained that Saudi Arabia's ability to withstand energy shocks, especially as a result of the conflict in the Middle East, surpasses many regional economies, thanks to resilience in oil import and export activities and the success of economic reforms. He also noted that rising oil prices have helped offset part of the decline in exports, and that these expectations are contingent upon an end to the regional conflict. There are warnings that growth could be reassessed if tensions escalate or energy prices remain high. Additionally, he viewed artificial intelligence as an opportunity for economic growth, provided that appropriate policies and infrastructure are in place.
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